BlockBeats News, June 2nd - Movement, an Ethereum Layer 2 project that faced controversy shortly after its launch last year, is now seeking transformation. The newly appointed CEO of Move Industries, Torab Torabi, stated that Movement has been repositioned as an independent Layer 1 blockchain with the goal of becoming the settlement infrastructure for emerging markets' stablecoins.

Move Industries announced on Tuesday that over the past few months, the company has obtained access to a compliant payment network covering the United States, Canada, and the European Union through partnerships with regulated remittance and digital currency institutions, laying the foundation for stablecoin payments and cross-border settlement services.

According to the announcement, the company has formed partnerships with stablecoin issuers Circle, wallet projects KAST and Sorted, as well as tokenization projects Oro, Yuzu Money, and Zoth. Additionally, Avant Protocol has selected the Movement Network as the infrastructure platform for its revenue and fund management products, further expanding Movement's applications in the stablecoin and Real-World Asset (RWA) sectors.