BVNK, a stablecoin payment platform, has recently announced the launch of Layer1, a self-custody digital asset infrastructure. This new platform is designed to help businesses quickly and securely launch stablecoin payments, giving them full control and privacy over their digital assets. The initiative aims to streamline blockchain payments by addressing key infrastructure challenges, allowing businesses to implement digital asset payments globally, even if they do not have extensive technical knowledge.
Layer1 focuses on solving critical issues in current digital asset solutions by speeding up time to market, providing blockchain abstraction, enhancing data privacy and control, and seamlessly integrating with existing systems. The platform offers a range of automated functionalities, including wallet creation, reconciliation, asset management, integration with third-party services, automated consolidation, multi-venue trading, and comprehensive treasury management. BVNK CTO and co-founder Donald Jackson emphasized that Layer1 was created in response to the growing demand for blockchain products, allowing businesses to launch digital asset payments without needing to be blockchain experts or deploy a large engineering team.
The introduction of Layer1 comes at a time of rapid growth in the stablecoin sector. Between 2019 and 2023, annual stablecoin transactions have increased significantly, reaching approximately $7 billion. The number of stablecoin holders has also risen to 100 million, with the total market capitalization of assets in the sector reaching $160 billion, primarily driven by USDT. Traditional financial payment institutions like Visa and PayPal have shown a strong interest in the industry, further fueling its expansion.
BVNK CEO Jesse Hemson-Struthers noted the growing interest in self-hosted solutions among various entities, including major financial institutions, trading firms, and crypto enterprises, in response to the booming stablecoin market. With Layer1, BVNK aims to provide these firms with access to core stablecoin payments infrastructure, allowing them to focus on developing innovative products and services instead of dealing with the complexities of blockchain technology. The launch of Layer1 marks a significant step forward in the evolution of stablecoin payments and the broader digital asset ecosystem.
