Stablecoin fee platform BVNK has launched Layer1, a self-custody digital asset infrastructure, in accordance to a June 27 assertion shared with CryptoSlate.
This platform helps businesses launch stablecoin payments shortly and securely, guaranteeing management and privateness over their digital belongings.
Layer1
BVNK goals to streamline blockchain payments by its Layer1 answer. This initiative tackles infrastructure challenges, enabling businesses to shortly implement digital asset payments globally, even with out in depth technical data.
Layer1 particularly targets vital points in present digital asset options. It accelerates time to market, gives blockchain abstraction, enhances information privateness and management, and integrates with present techniques.
A number of the answer’s automated functionalities embody pockets creation, reconciliation, asset administration, and integration with third-party providers. It additionally helps automated consolidation, multi-venue buying and selling, and complete treasury administration.
BVNK CTO and co-founder Donald Jackson stated the product was designed to meet the growing demand for blockchain merchandise. He said:
“Layer1 is the culmination of our learnings and it means that other businesses can launch digital asset payments without needing to be blockchain experts, to know how this or that network behaves, or when the next hard fork is coming – and without needing to deploy an entire engineering team to develop software for two years.”
Stablecoin payments
Layer1’s debut arrives amid strong enlargement within the stablecoin sector. Between 2019 and 2023, annual stablecoin transactions surged 18-fold, reaching roughly $7 billion.
Throughout this era, stablecoin holders peaked at 100 million, with the full market capitalization of belongings within the sector reaching $160 billion, principally made up of USDT. The trade has additionally attracted sturdy curiosity from conventional monetary fee establishments like Visa and PayPal.
Jesse Hemson-Struthers, BVNK CEO, highlighted this rising urge for food amongst varied entities—from main monetary establishments to buying and selling companies and crypto enterprises—for self-hosted options in response to this progress.
He stated:
“With Layer1, we’ve built a product that allows these firms to access core stablecoin payments infrastructure, so they can spend their time instead on building differentiated products.”
