Move Industries has relaunched Movement as an independent Layer 1 blockchain, positioning it as a stablecoin settlement network for financial services in emerging markets after a 2025 token-dumping scandal that wiped out about $38 million in value.
The MOVE token, once trading at an all-time high of $1.45, collapsed to around $0.01 following the incident. Major global exchanges halted trading, and Movement Labs dismissed former chief executive Rushi Manche after an internal review of the events involving market maker Rentech.
New focus on payments and remittances
Under chief executive Torab Torabi, Movement has pivoted from an Ethereum Layer 2 design to a sovereign blockchain built on what the firm calls a “verticalized stack.” The network uses the MOVE programming language and runs its own validator set, targeting settlement times under 500 milliseconds and throughput above 10,000 transactions per second.
The redesigned network is focused on payments, remittances and yield infrastructure in markets underserved by global banking. Within this strategy, Canopy, a platform acquired by Move Industries, will provide vault and money market services across the ecosystem.
Movement aims to support cross-border transfers and stablecoin-based financial products, particularly in corridors across Africa, Asia and Latin America, where access to traditional banking remains limited.
Regulatory access and partnerships
Move Industries says it has secured access to licensed payment systems in the United States, Canada and the European Union through partnerships with regulated entities. This regulatory connectivity is intended to support compliant cross-border payment and treasury products.
The company has formed collaborations with Circle, KAST, Sorted, Oro, Yuzu Money and Zoth to broaden its product range. Avant Protocol plans to use the Movement Network for yield and treasury services, while KAST-linked products have onboarded more than 18,000 verified users across over 160 countries, according to the firm.
Movement’s deal with Circle is central to its payment strategy. In March 2026, the network introduced USDCx, a stablecoin backed 1:1 by USDC and issued natively on Movement. The design avoids third-party bridges, which are often seen as security weak points, and is aimed at low-fee, high-speed remittances. The company is targeting flows similar to the broader global remittance market, which sent an estimated $685 billion to low and middle-income countries in 2024.
Competitive landscape in blockchain payments
The relaunch comes amid intensifying competition in blockchain-based payments. Networks such as Tempo and Canton are seeking a foothold alongside more established payment-focused chains like Solana and scaling solutions for Ethereum.
Movement’s claimed sub-second finality and high throughput are pitched directly against these rivals. Solana’s on-chain stablecoin supply expanded by 567% to roughly $12 billion in 2025, underscoring the demand for high-capacity networks in payments and settlement. Movement is betting that its focus on regulated stablecoin infrastructure in emerging markets can carve out a differentiated niche.
Cleanup after token-dumping controversy
The rebrand and technical overhaul follow the fallout from the Movement Labs token-dumping controversy in early 2025. Market maker Rentech controlled about 66 million MOVE tokens—around 5% of total supply—and rapidly sold them at launch, triggering a sharp drawdown in price and prompting exchanges to suspend trading.
In response, the Movement Network Foundation repurchased roughly 19% of the tokens originally allocated to early backers, equal to around 4.2% of total supply. The buyback created an exit path for earlier holders, many of whom had backed Movement when it was planned as an Avalanche subnet.
The foundation’s actions were accompanied by governance changes, including Manche’s removal and Torabi’s elevation to chief executive. Torabi previously worked on Movement’s business development team.
Rebuilding credibility and regulatory footing
Torabi said builder retention has remained above 90% since last year, despite the turbulence. The group has pursued regulatory compliance, including money transmitter licensing efforts, and has held talks with government and financial officials in markets such as Ethiopia.
Movement’s leadership is framing the strategic pivot as a “chapter break” from the 2025 turmoil, emphasizing stablecoin deployment in regulated environments and integrations with fintech platforms serving regions with limited banking access.
Early adoption metrics and what to watch
Early signs of traction include:
- more than 18,000 verified users across 160+ countries using products built by partners such as KAST
- access to licensed payment systems in North America and the European Union
- initial rollout of USDCx for payment and treasury applications on the network
In the coming period, market watchers are likely to focus on:
- circulation and on-chain activity of USDCx
- daily transaction volume and whether Movement can maintain settlement times below 500 milliseconds under real-world traffic
- the depth and quality of new partnerships with fintech and payment firms in emerging markets
Whether Movement can convert its technical claims and regulatory positioning into sustained payment flows will determine if the Layer 1 relaunch delivers a durable reset from its earlier controversies.
Want deeper context on MOVE’s tech and token? Discover its design in What is Movement (MOVE) now.
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