The Movement project, originally created to scale blockchains in Move language, is changing its strategy radically by switching to cross-border payments, remittances and dollar savings products. This move reflects a cross-industry trend: amid market overload and the commoditization of scaling technologies, level 2 (L2) projects are revising roadmaps, shifting focus to real finance applications and stablecoins. Polygon had previously taken a similar course.

The Movement team announced that it had gained access to licensed payment systems in the US, Canada and the EU. The priority now will be to build a Stablecoin-based settlement infrastructure for emerging markets. According to CEO Torab Torabi, the integration of regulated payment gateways with oncheen payments will modernize financial services and cover the $685 billion remittance market.

Amid a strategic turnaround, the Movement Network Foundation has purchased some 19% of the tokens previously reserved for investors (4.1% of the total issue). Experts note that competition for L2 projects is now shifting from fighting other blockchain to confronting traditional payment systems and money transfer operators.