SAN FRANCISCO, June 02, 2026 (GLOBE NEWSWIRE) — Movement, the stablecoin settlement and yield layer for emerging markets, has secured access to licensed payment rails across the United States, Canada and European Union. The company is committing its full focus to cross-border payments, remittances, and dollar savings products for the markets that the traditional financial system has overlooked.
Remittance flows to low and middle-income countries reached an estimated $685 billion in 2024, according to the World Bank. Yet cross-border payments remain sluggish, labored, and dependent on legacy banking infrastructure. Senders still pay an average of 6.36% per transaction globally, while settlement delays and limited banking access continue to impact consumers and businesses across key remittance corridors.
“Billions of individuals globally are financially disenfranchised and underserved,” said Torab Torabi, CEO of Movement. “In many markets, moving money across borders is still too slow, too expensive, and too inaccessible. Our mission is to marry licensed payment rails with onchain settlement to modernize financial services globally, particularly in emerging markets.”
As part of the business transition, the Movement Network Foundation repurchased approximately 19% of tokens previously allocated to investors, equivalent to 4.2% of total supply, demonstrating its commitment to tokenholders and the long-term mission.
Movement has built a technical framework designed to reduce settlement times and lower the cost of moving money across borders. Through Movement’s infrastructure and its licensed-partner network, builders can deploy cross-border payment products, dollar-denominated savings accounts, and real-world-asset yield offerings without relying on correspondent banking systems or pre-funded settlement accounts. This is designed to support compliant financial products at scale for fintech and neobank partners operating across emerging markets.
Several partners are already building on the Movement Network today:
- KAST: More than 18,000 verified users have joined through Movement-powered products across more than 160 countries.
- Circle / USDCx: USDCx launched as a natively issued stablecoin on the Movement Network, backed 1:1 by native USDC and designed to support payments, treasury, and savings products built by partners.
- Avant Protocol: Avant selected the Movement Network to support yield and treasury products, including periods of elevated redemption activity earlier this year.
- Sorted Wallet: Movement Network Foundation participated in Sorted Wallet’s $4.4M seed round alongside Tether and Gnosis, backing a non-custodial crypto wallet built for feature phones with 500,000+ downloads across 160 countries and active users in Kenya, Nigeria, Tanzania, and Pakistan.
- Yuzu Money: Yuzu Money will serve as a curator on the Movement Network’s Canopy savings platform, delivering conservative USD yield through T-bills and AAA CLOs for neobank and fintech partners.
- Oro: Oro, an onchain gold tokenization platform, is integrating with the Movement Network as its first cross-chain vault, bringing yield-generating gold vaults and physical redemption infrastructure to Movement’s emerging markets partners.
- Zoth: Movement has invested in Zoth, integrating its RWA yield infrastructure natively on the Movement Network to give partners access to institutional-grade, dollar-denominated yield products backed by investment-grade assets.
Movement’s infrastructure stack in conjunction with the Movement Network includes payments, treasury, savings, and liquidity products intended to give partners a single integration layer for financial services across emerging markets. The company, along with the Movement Network Foundation is also evaluating treasury and capital allocation initiatives, including additional token repurchase programs, as part of a long-term growth strategy.
For more information on Movement, please visit: MovementNetwork.xyz
About Movement and the Movement Network
Reference to Movement above is to Move Ind. Inc., the core contributor to the Movement Network. The Movement Network is a global settlement and yield layer for stablecoins, built on Move, the programming language Meta developed for financial applications. Move was designed from the ground up to secure financial assets, making it purpose-built for moving real money across borders at scale.
Neobanks, fintechs, and payment platforms build with Movement to settle cross-border transactions instantly. Traditional remittance rails require billions in pre-funded float and take two to five days to clear. Movement reduces that capital overhead and the traditional correspondent bank chain bottlenecks, cutting costs and giving financial institutions infrastructure they can trust.
Movement: Where Money Lives. To learn more, visit MovementNetwork.xyz follow @Movement_xyz on X and connect with Movement on LinkedIn.
Forward-Looking Statements and Acknowledgements
This release contains forward-looking statements regarding Movement’s business strategy, partnerships, regulatory approvals, token-related actions, and future operations. These statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including regulatory approval timelines, partner performance, market conditions, token-market dynamics, and other factors. Movement does not undertake any obligation to update forward-looking statements except as required by law. References to ecosystem partners reflect publicly available information and do not constitute endorsements by those partners except where expressly noted. References in this release to “licensed payment rails” refer to access provided through commercial partnerships with licensed money transmitters and e-money institutions in their respective jurisdictions, subject to those partners’ program terms and underwriting. Neither Movement nor the Movement Network Foundation is itself licensed as a money transmitter, e-money institution, depository institution, bank, broker-dealer, investment adviser, or investment company. Products and services referenced in this release are operated by independent third parties subject to those parties’ own terms, eligibility criteria, and jurisdictional availability. This release is informational only and does not constitute an offer to sell, or a solicitation of an offer to buy, any digital asset, security, financial instrument, investment product, yield-bearing product, or stablecoin, or financial, investment, legal, or tax advice. This release is not directed at, and is not intended for distribution to, persons in jurisdictions where its publication would be unlawful.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6c878a24-2dc3-4d59-95e8-ee768bd0e6bc
Contact: Carmen Pearson carmen.pearson@movementlabs.xyz
