Unlimit enters stablecoin infrastructure race with decentralized clearing house
2 min read
Fintech payments provider Unlimit has launched a non-custodial platform designed to act as a clearinghouse for major stablecoins and provide direct global off-ramps.
The company said the service will simplify stablecoin swaps by pairing decentralized exchange mechanics with its existing global payments network.
According to Tuesday’s announcement, the platform will enable users to swap and cash out stablecoins through a single interface, aiming to reduce fragmentation in the stablecoin market under “gasless” and zero-commission conversions.
Unlimit describes the service as the “first non-custodial stablecoin clearing house,” offering direct off-ramps in more than 150 currencies.
Founded in 2009 in London, Unlimit provides payment infrastructure to businesses across 200 jurisdictions worldwide, according to the company’s website.
In a statement, CEO Kirill Eves said stablecoins are increasingly functioning as a digital “extension of the US dollar” and framed the platform as a way to “connect the world of DeFi with traditional finance.”
The company did not say which stablecoins the platform will initially support.
Related: Coinbase’s x402 adds identity checks to power AI stablecoin payments
Fintechs expand into stablecoins
Several global fintech payment companies have recently entered the crypto space, particularly targeting the stablecoin sector.
In May, Stripe introduced stablecoin-based accounts that let customers send, receive and hold balances in USDC (USDC) and Bridge’s USDB (USDB), functioning much like a traditional dollar account. The feature, enabled through Stripe’s 2024 acquisition of Bridge, was rolled out to clients in more than 100 countries.
In October, Revolut introduced 1:1 conversions between US dollars and major stablecoins, allowing its 65 million users to exchange up to $578,630 every 30 days with no fees or spreads. The update sought to remove friction between fiat and crypto, according to a LinkedIn post from Leonid Bashlykov, Revolut’s head of crypto product.
In November, Jack Dorsey’s fintech company, Block (formerly known as Square), announced plans to add stablecoin send-and-receive functionality to its Cash App platform.
Global payment giants like Visa and Mastercard have also been getting in on the action.
In October, Visa disclosed plans to add support for stablecoins across four blockchains, with CEO Ryan McInerney telling investors that the company will continue to grow its stablecoin offerings after a strong year.
In November, Mastercard partnered with Thunes to enable near real-time payouts to stablecoin wallets through the Mastercard Move network.
The total stablecoin market is about $306.8 billion, according to DefiLlama data.
Magazine: China officially hates stablecoins, DBS trades Bitcoin options: Asia Express
