Move-based blockchain targets stablecoin settlement in emerging markets
Movement, a Move-based blockchain network, said Tuesday it has gained access to licensed payment infrastructure across the US, Canada, and the EU. The access is designed to connect traditional banking systems with stablecoin settlement networks, according to the announcement.
The infrastructure will support cross-border transfers and treasury services in regions with high payment costs and limited financial access, Movement said. The company did not identify the specific partners or regulated entities providing the payment rail access.
The announcement coincided with a token buyback by Movement Network Foundation. The foundation repurchased 19% of previously allocated investor tokens, representing 4.2% of total token supply. Movement tied the buyback to its strategic shift toward payments infrastructure, though the company did not explain the specific mechanism linking the two actions.
Movement’s entry into payment rails reflects broader momentum in stablecoin adoption. The US GENIUS Act, passed last year, established a federal framework for payment stablecoins. Stablecoins remain one of the digital asset industry’s fastest-growing sectors, with total value across all stablecoins reaching $320 billion.
Other blockchain networks have similarly prioritized stablecoin use cases. Solana has highlighted stablecoin payments and remittances as adoption grows. Polygon has expanded focus beyond scaling to support stablecoin settlement and payment-related initiatives. Aptos has promoted payments, consumer finance, and stablecoin use cases as part of its growth strategy.
Movement’s MOVE token has experienced significant volatility. The token reached a peak market capitalization of $2.5 billion but currently trades at a $54 million market cap. Global crypto transaction volume declined 11% year over year in the first quarter, reflecting weaker market activity and cooling investor demand.
Movement did not specify which regions constitute the “emerging markets” it is targeting or clarify whether the payment rail access is already operational or when it will become operational.
