Payments firm Corpay (CPAY) is now offering stablecoin wallets and settlement capabilities to its global corporate customers through a partnership with BVNK, providing an additional avenue for moving money across borders outside of traditional banking hours.
The integration allows Corpay clients to view stablecoin balances alongside fiat balances within its platform and to send, receive, store, and convert stablecoins via embedded wallets. Corpay will also use these stablecoin rails for its own treasury operations, aiming to reduce reliance on pre-funded accounts, improve capital efficiency, and facilitate fund transfers across its global footprint.
Corpay has also added blockchain-based settlement to its cross-border payments platform using JP Morgan’s Kinexys private blockchain and BVNK’s stablecoin infrastructure, expected to be deployed across select corridors. These new capabilities complement SWIFT, Corpay’s proprietary iACH network, and real-time local payment schemes.
Mastercard agreed to acquire BVNK for up to $1.8 billion in March, while Visa partnered with BVNK earlier this year to support stablecoin funding and payouts through Visa Direct. Other payment firms including Stripe and Worldpay are also pursuing similar stablecoin integrations.
Stablecoin payments remain a small but growing segment of global money movement. Data from Visa shows over $1.2 trillion in stablecoin transaction volume over the past 30 days, up from $733 billion a year ago.