Today's Edition
MAYS IBRAHIM (ABU DHABI)
An Abu Dhabi-based start-up incubated at Hub71 is betting that stablecoin – often seen as a crypto niche – can help power faster and cheaper cross-border transactions.
Founded by brothers Brian Shroder and Matt Shroder, 1Money is building a payments network that uses stablecoins as its backbone. These digital currencies, they argue, offer one of the clearest practical use cases for Web3 technology.
"Strip away the hype, and the value was pretty simple," Brian Shroder, Co-founder and CEO, told Aletihad in a recent interview. "Stablecoins can make it much easier to move money instantly, transparently, and at lower cost across borders."
These cryptocurrencies are designed to maintain a stable value by pegging their price to assets such as fiat currencies like the US dollar.
The start-up enters an increasingly crowded payments market, but the founders said existing systems remain weighed down by intermediaries, delays, and high transaction costs.
"Too many systems are still talking past each other," Shroder said.
1Money's pitch is that it is not simply building another payments app but redesigning the "plumbing" itself – so that issuing, sending, receiving and redeeming stablecoins all happen within a single integrated system.
"If we do it right, the customer should barely notice the technology at all. They should just notice that moving money is faster, cheaper, and far less annoying," Shroder explained.
Traditional international wires often take several business days and incur sizeable fees, while stablecoin transactions can settle within minutes.
However, the founders stressed that speed alone is insufficient for enterprise adoption.
"The real bar is not just being faster or cheaper," they said. "Payments also have to be compliant, auditable and reliable when real money is involved."
To differentiate itself from competitors, 1Money is designing its payment infrastructure from the ground up around stablecoins rather than retrofitting crypto tools onto legacy systems.
The company has filed nine patents tied to its technology and operational framework, according to Shroder.
"Our view is that payments should be much simpler than they are today," he said.
The UAE Advantage
The founders believe the UAE has become an ideal testing ground for such technology because of its international business environment and growing openness to financial innovation.
"You are surrounded by cross-border business, different markets, different customer needs, and a region where moving money internationally is just part of everyday life," Shroder said. "It forces you to think globally whether you planned to or not."
He also praised the UAE's approach to emerging technologies and regulation.
"The conversation is not just 'no' or 'wait'. More often, it is 'how do we do this thoughtfully?' That makes it a very exciting place to build," Shroder said.
The company sees stablecoins increasingly moving into mainstream financial activity, particularly in areas such as remittances, merchant settlements, and online commerce.
"Most people do not care what technology moved their money," the co-founder noted. "They care that it was fast, cheap, secure, and painless."
