Movement Expands Stablecoin Payment Network in the US and Europe

The Movement blockchain network, based on the Move programming language, has gained access to licensed payment systems in the US, Canada, and the European Union. This strategic move aims to strengthen cross-border payment services in emerging markets, intending to bridge traditional banking systems with stablecoin settlement networks. This is reported by Cointelegraph.com reports .

Company representatives stated that the new infrastructure will facilitate the movement of funds between traditional finance and blockchain systems. The primary focus is not on full crypto-transfers, but specifically on settlements made using stablecoins. This is particularly important for regions with high payment costs and limited access to financial services.

Additionally, the Movement Network Foundation announced that it has repurchased nearly 19 percent of the tokens allocated to investors (4.2 percent of the total supply). This measure is linked to the project's new strategy focused on payment infrastructure. For context, the market capitalization of the MOVE token has fallen from its peak of $2.5 billion to the current $54 million.

This transformation of the Movement network reflects a general trend in the blockchain industry. Currently, major networks such as Solana, Polygon, and Aptos are also focusing more on stablecoin payments and cross-border money transfers rather than just smart contracts. This sector remains one of the fastest-growing segments in the digital asset market.

Today, the total value of all stablecoins in the global market has exceeded $320 billion. The GENIUS Act passed in the US has created a federal legal framework for these assets. At the same time, according to TRM Labs, the volume of global crypto transactions decreased by 11 percent in the first quarter of this year, indicating a decline in overall market activity.