Movement, an Ethereum layer2 blockchain that was embroiled in controversy over a mass token selloff scandal, is making a fresh start as an independent layer1 blockchain rather than an Ethereum layer2.

The Block recently reported that Move Industries' new CEO, Torab Torabi (토랍 토라비), said in an interview that the new vision would focus on a stablecoin payments platform targeting emerging markets.

Move Industries has partnered with regulated money transfer companies and electronic money institutions in the United States, Canada and the European Union to secure access to licensed payment networks.

For that, it is working with stablecoin issuer Circle, wallet startups Kast and Sorted, and tokenisation projects Ouro, UseMoney and Joss. Avant Protocol supports yield and treasury products based on the Movement network.

Torabi acknowledged that Movement had no competitive edge during its layer2 days. He described the existing network as a 'Frankenstein chain' stitched together from components such as Celestia and Ethereum, and said latency reached 7 seconds. The Block reported that after shifting to layer1, Movement is running its own validators and aims for payments in under 500 milliseconds.

The mass token selloff scandal that erupted in early 2025 also affected the fresh start. At the time, Binance's investigation found that Movement-linked market maker Rentech quickly sold 66 million MOVE tokens, or 5 percent of total supply, shortly after the token launch, triggering a price plunge.