BVNK, global stablecoin payment provider, has launched Layer1, a self-hosted digital asset infrastructure to help businesses launch stablecoin payments.
BVNK’s new product aims to simplify the complexities and infrastructure challenges of developing in-house blockchain payment systems, offering automated core features such as wallet creation, reconciliation, asset management and integrations with third-party providers.
Layer1 enables businesses to launch digital asset payments across multiple regions, using fewer than 200 lines of code in just a few weeks with features such as omnibus wallets, automated consolidation, multi-venue trading capabilities and comprehensive treasury management.
The infrastructure aims to simplify integration with various blockchains, making stablecoin and digital asset management easier. It also supports API integration with Talos, allowing businesses to connect to multiple crypto exchanges and manage end-to-end digital asset trading from Layer1.
Donald Jackson, Co-founder and CTO of BVNK, said: “There’s a growing appetite among businesses to build products with blockchains, but it remains complex and time-consuming. Each blockchain, each digital asset, has its own quirks. We’re in a unique position of starting from a green field for our own global payments infrastructure, which we’ve spent five years building.
“Layer1 is the culmination of our learnings and it means that other businesses can launch digital asset payments without needing to be blockchain experts, to know how this or that network behaves, or when the next hard fork is coming – and without needing to deploy an entire engineering team to develop software for two years.”
Furthermore, what Layer1 suggests sets this infrastructure apart from competitors is its ability to ensure businesses keep full control and ownership over their data and digital asset keys.
Jesse Hemson-Struthers, Co-founder, CEO of BVNK, commented: “We’ve seen increased interest in self hosted solutions from businesses in a variety of industries – from large financial institutions to trading firms and crypto-native businesses. With Layer1, we’ve built a product that allows these firms to access core stablecoin payments infrastructure, so they can spend their time instead on building differentiated products.”
So far this year, BVNK has made several developments in the stablecoin ecosystem. In May, BVNK integrated stablecoin PayPal USD (PYUSD) into its payment platform and recently the company enabled Swift payments onto its platform, allowing payment providers to make fiat-to-crypto transfers.
