Written by Sam Bourgi , Staff Writer.Reviewed by Robert Lakin , Staff Editor.
Written by Sam Bourgi , Staff Writer.
Reviewed by Robert Lakin , Staff Editor.
Movement expands stablecoin payments push with access to US, Canada, EU rails
Latest NewsPublishedJun 2, 2026
The Move-based blockchain network stated it gained access to licensed payment infrastructure as it shifts toward stablecoin settlement and remittances.
Movement, the Move-based blockchain network that has expanded into stablecoin payments and financial infrastructure, stated it has gained access to licensed payment rails across the US, Canada and the EU, a move aimed at strengthening its cross-border payment offerings in emerging markets.
In a Tuesday announcement, Movement stated it plans to utilize the payment infrastructure to connect traditional banking systems with stablecoin settlement networks, targeting cross-border transfers and treasury services in regions where payment costs remain high and financial access is limited.
Movement did not identify the partners or regulated entities that would enable its payment rail access. Still, the company stated the infrastructure will enhance its ability to move funds between traditional payment networks and blockchain systems, with a focus on stablecoin-based settlement rather than fully crypto-native transfers.
The announcement also highlighted a token buyback tied to the company’s shift toward payments infrastructure. The Movement Network Foundation stated it repurchased roughly 19% of tokens previously allocated to investors, representing about 4.2% of the token’s total supply.
MOVE token’s market capitalization has fallen from a peak of around $2.5 billion to around $54 million currently. Source: CoinMarketCap
Related: US lawmakers move to protect blockchain devs from prosecution
Stablecoins become a key growth area for blockchain networks
Movement’s pivot reflects a broader trend across the blockchain industry, where networks originally touted as smart-contract platforms are increasingly emphasizing stablecoin payments and financial infrastructure.
Solana, which initially gained traction through decentralized finance and consumer applications, has in recent months highlighted stablecoin payments and remittances as adoption grows. Polygon, an Ethereum layer-2 network, has also expanded its focus beyond scaling to support stablecoin settlement and payment-related initiatives.
Aptos, another blockchain built on the Move programming language, has similarly promoted payments, consumer finance and stablecoin utilize cases as part of its broader growth strategy.
The shift comes as stablecoins remain one of the digital asset industry’s fastest-growing sectors, particularly following the passage of the US GENIUS Act last year, which established a federal framework for payment stablecoins.
The total value of all stablecoins has eclipsed $320 billion. Source: DefiLlama
The growing focus on payments infrastructure also comes amid softer conditions across broader crypto markets. Global crypto transaction volume declined 11% year over year in the first quarter, as reported by TRM Labs, reflecting weaker market activity and cooling investor demand.
Related: Crypto Biz: Crypto infrastructure spending rises as ETF appetite cools
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Stablecoin
- Payments
- Remittances
- Industry
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