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About Move Industries
Move Industries is the current developer and operator of the Movement network, a legal entity separate from the bankrupt Movement Labs. Its business revolves around building an ecosystem with the Move language, operating an independent Layer 1 focused on stablecoin settlement for emerging markets, providing cross-border payment and remittance infrastructure, and using the Move Alliance to have ecosystem teams repurchase MOVE tokens with revenue, recycling value back into the native token.
Its core competitiveness lies in Move's safety (resource model, formal verification), the 1-second latency and high throughput after the Monza upgrade, and the stance of "no new token issuance and no competition with ecosystem projects." The problems it addresses include the limits of L2 performance/governance, the high cost and friction of cross-border stablecoin settlement, and the loss of trust caused by earlier market-maker manipulation and insider-trading scandals.
Recent half-year progress: in June 2026, it announced a full pivot to Layer 1 and gained access to regulated remittance/e-money networks in the US, Canada, and the EU; partnerships include Circle, KAST, Sorted, Oro, Yuzu Money, Zoth, and Avant Protocol. In July 2026, Movement Labs filed for bankruptcy, but Move Industries, as an independent entity, was unaffected and continues operating the network.
Over the past six months, Move Industries (the new brand of Movement) has undergone a major strategic transformation. In December 2025, it took over development and operations of the Movement ecosystem from the bankrupt Movement Labs, establishing itself as an independent entity. In March 2026, it launched USDCx, a native stablecoin fully backed by USDC and powered by Circle's xReserve smart contract, enabling seamless cross-chain interoperability via CCTP and Circle Gateway. In June, the project pivoted from competing in the crowded Ethereum L2 space to becoming an independent Layer 1 focused on stablecoin settlement, cross-border payments, and remittances for emerging markets. It also introduced the Move Alliance, requiring partner projects to allocate at least 50% of protocol revenue to buy and hold $MOVE, aligning incentives across the ecosystem. Additionally, Move Industries secured access to licensed payment infrastructure in the US, Canada, and the EU through commercial partners, and reserved two validator slots for the Korean and Japanese communities.
Looking ahead, Move Industries aims to become the world's leading payments and remittances chain, measured by real daily active users. Its roadmap prioritizes deepening stablecoin utility in emerging markets, expanding treasury and dollar-denominated savings products, and growing its network of fintech partners like KAST, Avant, and Sorted Wallet. The team is actively pursuing a spot listing on Coinbase through its 'Blue Carpet' program, while providing liquidity on Aerodrome and deploying LayerZero contracts to enhance accessibility. The long-term vision is to build a self-sovereign, sustainable ecosystem where applications and infrastructure mutually reinforce growth, with a focus on regulatory compliance through third-party licensed partners rather than direct licensure.
Move Industries (formerly Movement Labs) is now led by Torab Torabi as CEO, a founding member who previously served as Movement's head of business development and held roles at Marinade Finance and Edge & Node; he graduated from UC Berkeley. Will Gaines is President & CMO, formerly Movement's head of marketing, overseeing brand and ecosystem growth. Young Yang Liauw continues as head of engineering, having served as Aptos' Head of Move and worked on Meta's Novi/Libra teams. Former Movement Labs co-founders Rushi Manche and Cooper Scanlon are no longer in executive roles; Scanlon handed over leadership while Manche was terminated.