Stablecoin Payment Infrastructure Expands Through New Partnerships

Financial institutions and payment infrastructure providers are increasingly integrating stablecoins into global payment systems to improve settlement speed and efficiency [1, 2, 3]. While stablecoins now facilitate more than $300 billion in daily settlement, industry leaders are focused on building the necessary infrastructure to convert these onchain balances into everyday, real-world financial products [1].

Key takeaways

• Kulipa raised $6.2 million in seed funding to scale its stablecoin-native card issuing infrastructure for fintech platforms [1].
• Visa Canada and Wealthsimple launched a pilot program to enable stablecoin settlement in USDC, moving beyond traditional five-day settlement cycles [2].
• Thunes has joined the Circle Payments Network to allow customers to use stablecoin-powered settlement within existing fiat workflows [3].
• Since its February 2025 launch, Kulipa reports having issued over 120,000 cards and onboarded 20 fintech partners [1].

Bridging the Gap Between Onchain and Fiat

The current shift toward stablecoin integration aims to solve the fragmentation and capital-intensive nature of existing payment systems [1]. Kulipa, a Paris-based platform, provides infrastructure that allows fintech companies to issue payment cards funded directly from stablecoin balances [1]. By settling transactions onchain, the company seeks to reduce the reliance on prefunded models that have historically burdened fintech platforms [1]. The platform operates with regulatory coverage in the European Union, Argentina, and Nigeria, with plans to expand into the United States via BIN sponsorship [1].

Simultaneously, major payment networks are testing how stablecoins can modernize institutional settlement. Visa’s global stablecoin settlement program, which has surpassed a $7 billion annualized run rate, recently expanded into Canada through a pilot with Wealthsimple [2]. This initiative allows for seven-day settlement cycles and aims to provide a foundation for more automated, flexible liquidity management [2]. Similarly, the collaboration between Thunes and Circle is designed to enhance interoperability, allowing cross-border payment customers to leverage stablecoin rails while maintaining their current fiat-based operational processes [3].

Why it matters

The industry is moving toward a model where stablecoins function as a practical settlement layer rather than just a niche asset [1]. As regulatory clarity improves, the focus has shifted toward creating "turnkey" solutions that allow users to spend stablecoins as easily as traditional fiat currency [1]. While these developments represent a significant step toward mainstream adoption, the infrastructure remains in an early stage of evolution [1]. The success of these initiatives depends on the ability of firms to maintain compliance while scaling across diverse global markets, ultimately aiming to transform fintech platforms into fully integrated, onchain-enabled financial institutions [1, 2].