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Movement relaunches as Layer 1
The Block·
Following a token-dumping scandal, Movement Industries is relaunching as a Layer 1 blockchain, rebranding as Movement. The company has partnered with several firms, including Circle, to facilitate this pivot. This strategic shift aims to rebuild trust and find new utility after past controversies. The focus on emerging markets suggests an attempt to capture growth in regions with less developed financial infrastructure and potentially higher demand for innovative payment solutions.
Tags
fintech
crypto
regulation
Original Source
The Block — theblock.co