finance
Corpay Adds Stablecoin Wallets and Blockchain Settlement Options via BVNK and JPMorgan Kinexys
Payments firm Corpay partnered with BVNK to embed stablecoin wallets for its global corporate customers, enabling balances to appear alongside fiat and allowing send, receive, store and convert functions. The company will also deploy the same rails in its treasury operations and has added blockchain-based settlement through JPMorgan’s Kinexys private blockchain.
May 11, 10:34 AM·1m read1 source
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Payments firm Corpay partnered with BVNK to add stablecoin wallets and settlement for its global corporate customers, giving companies another option to move money across borders outside traditional banking hours. Corpay clients can now see stablecoin balances alongside fiat balances inside its platform.
They can send, receive, store and convert stablecoins through embedded wallets provided via the BVNK integration.
Corpay will use the same stablecoin rails in its treasury operations. It expects the rails to reduce reliance on pre-funded accounts, improve capital efficiency and make it easier to move funds across its global footprint. The firm has also added blockchain-based settlement to its cross-border payments platform through JPMorgan’s Kinexys private blockchain and BVNK’s stablecoin infrastructure.
The JPMorgan Kinexys and BVNK stablecoin rails will be used across select corridors. The new BVNK wallet integration sits alongside SWIFT, Corpay’s proprietary iACH network and real-time local payment schemes. The additions bring stablecoin functionality closer to customers while preserving existing infrastructure.
BVNK has become a key infrastructure provider for payment companies adding stablecoin capabilities. 8 billion. Visa teamed up with BVNK earlier this year to support stablecoin funding and payouts through Visa Direct.
Worldpay has used BVNK to offer stablecoin payouts to global businesses. Stripe has been building stablecoin payments through Bridge. The use case remains mostly operational, focused on liquidity movement, treasury management and cross-border transfers outside banking hours.
