Ethereum (ETH) news: Movement pivots to stablecoin payments as the layer-2 boom loses momentum
Movement is shifting from its original goal of connecting Move-based blockchains with Ethereum to building stablecoin-based payment infrastructure for cross-border payments, remittances, and dollar savings, especially in emerging markets. The company says it now has access to licensed payment systems in the U.S., Canada, and the EU, and plans to combine those rails with blockchain settlement. The pivot reflects a wider trend in the crowded Ethereum layer-2 sector, where many networks are moving beyond scaling to pursue real-world financial use cases as differentiation fades. Movement aims to target the roughly $685 billion remittance market serving low- and middle-income countries. As part of the transition, the Movement Network Foundation repurchased about 19% of tokens previously allocated to investors, equal to 4.1% of total supply.
