Torab: Move Industries has no affiliation with Movement Labs and is currently exploring stablecoin applications with the Bank of Ethiopia

Torab, CEO of Move Industries, stated on X platform that Move Industries is a team of developers in the Movement ecosystem and has no affiliation with Movement Labs, which has filed for bankruptcy, and is not involved in the bankruptcy case. Torab revealed that Move Industries has an online and licensed stablecoin payment channel, and has recently discussed stablecoin adoption with the Ethiopian Central Bank.