An early meme, first published in 1921

Bridge → Stripe. BVNK → Mastercard. Reap → Kraken (today, $600M). 4 acquisitions in 18 months, $3B deployed. The stablecoin infrastructure market is consolidating before most fintechs have even noticed it exists. Stripe's $1.1B acquisition made Bridge the obvious answer. The non-obvious answer is that the rest of the world isn't waiting for Stripe. Stablecoin infrastructure isn't one product. It's virtual accounts, on/off-ramps, local rails, FX, stablecoin orchestration, issuance, custody, and compliance, each requiring a different layer. That's why the category has split into a full stack of specialized providers across every region. Bridge is still the reference. But its share of the global market keeps shrinking as regional champions pick up corridors Bridge doesn't reach. The Stablecoin Infrastructure Stack reflects the diversity of corridors and use cases: - USA & Canada: Sphere Labs, Mural Pay, Brale, Modern Treasury, Layer2 Financial, Iron, Conduit, Routefusion, Crossmint, Cybrid - Europe: BVNK, Due, Currencycloud, Rapyd, Merge Money, Fipto, OpenPayd, Wise Platform, AMINA Bank - LATAM: Bitso, dLocal, Pomelo, CambioReal, BlindPay, Koywe - UAE & Middle East: Hubpay, TransFi, Fuze - Africa: Yellow Card, Flutterwave, ivorypay, Quidax, Paychant, VALR, Kotani Pay - Asia: Tazapay, Stables, Triple-A, PhotonPay Aggregators connecting them all: Borderless xyz plugs regional liquidity providers into a single global stablecoin network, turning the fragmentation above into one API. Capital and consolidation explain this shift. 4 acquisitions in 18 months, $3B deployed: - Bridge → Stripe ($1.1B) - BVNK → Mastercard ($1.8B closing late 2026) - Iron → MoonPay - Reap → Kraken By 2026, the global B2B stablecoin payment volume breaks down roughly as: - ~60% Asia ($245B, concentrated in Singapore, Hong Kong, Japan) - ~23% North America ($95B) - ~12% Europe ($50B) - The rest split between LATAM, Africa, and MENA, growing fastest Stablecoin infrastructure is no longer a single product. It's becoming a critical infrastructure layer of every cross-border business, and the map is global. PS: I post about payments with @Subyhq, stablecoins & the reality of building a payment startup, every week. Follow for more!

Kraken just acquired Reap for $ 600M - and it's not just a bold move, it's a signal. @reapglobal builds payment infrastructure for businesses: corporate cards, expense management, cross-border settlements. For @krakenfx, this is a direct entry into the B2B payments stack - territory that crypto exchanges rarely touched before. But zoom out, and Kraken isn't alone. Over the past three years, the payments sector has become the most active M&A battleground in crypto. Nine major deals, over $5.5B deployed: @Mastercard → @BVNKFinance ($1.8B): the clearest sign yet that card networks are buying into stablecoin infrastructure rather than building it. @Ripple → Hidden Road ($1.25B): a prime brokerage play, but with settlement and payments at its core. @stripe → @Stablecoin ($1.1B): the deal that set the tone for everything that followed, stablecoins as serious payment rails, not a crypto experiment . @stripe → @privy_io (~*$230M): wallets as the missing layer on top of Bridge's orchestration @Ripple → Rail ($200M) and @0xPolygon → @Coinme / @0xsequence ($200M): infrastructure bets on on/off-ramp and wallet layers. @moonpay → Helio ($175M): doubling down on merchant-facing crypto payments. @ModernTreasury → @beam_cash ($40M): quiet but telling - a $ 2B fintech adding stablecoin rails for corporates. The pattern is consistent. Whether it's a card network, a crypto exchange, or a payments fintech, everyone is acquiring the same thing: the infrastructure to move money onchain. The consolidation phase has started. What used to be fragmented startups building isolated pieces of the stack is now becoming integrated platforms owned by well-capitalized players. The question isn't whether stablecoin payments will go mainstream. It's who controls the rails when they do.

think my camera crew needs a break

B2B dominates stablecoin payments. ~$226B annually — roughly 60% of total volume. Via @GSR_io Research

Bank profits being protected at the expense of consumers is wild. Whatever happened to free market capitalism in the US?

Order and “Progress” 🇧🇷 Brazil’s BCB just banned stablecoins from regulated cross-border settlement rails. @StableportX is on it. More to follow.

An estimated $60 billion was spent on remittance fees in 2025. This could be almost zero with stablecoins.

1. Stablecoin Payments boosted by Stableport On April 20th, Stableport a platform that helps companies pay each other across borders using stablecoins launched It is backed by Polygon to replace slow traditional banking processes Check it out here: stableport.io

Proud moment here! My co-founder @StablePhil and I spent a year quietly building the biggest upgrade to cross-border settlement in half a century. No more "waiting for wire." No more 7% friction on 1970s correspondent rails. USD in. Local Fiat out. Minutes, not days. A huge thank you to @0xAishwary and @0xPolygon for identifying our potential early on and following through with a strategic investment. This is a pivotal moment for us, and we’re just getting started. The US-LATAM corridor is officially unlocked🔓 Onwards!

Join @StableportX & @0xPolygon tonight for the definitive closing event of the Digital Asset Summit. 🗽 Taking place just 5 minutes from the Javits Center, we’re hosting an exclusive late-night residency for the industry’s founders, investors, and innovators. 🥂 9pm: Complimentary Happy Hour 🌙 10pm: After Dark Residency Strictly limited capacity. Request access: luma.com/1399t15o?v=2

the clarity act just quietly banned passive stablecoin yield to protect community bank deposits. and it got bundled with bank deregulation provisions as a political sweetener. crypto regulation is now being written by the banking lobby, not the crypto lobby. that's not bearish or bullish, it's just a totally different game than people think they're playing. the banks won the deposit protection fight but they might have accidentally created a competitor that's worse for them in the long run. a stablecoin payment network with activity-based rewards competes directly with visa and mastercard, not with savings accounts. the banking lobby optimized for the wrong threat.

Your cargo doesn’t stop on weekends. Why does your money? Stableport replaces banking delays with instant settlement. Global payments, moving at the speed of the internet. Secure your spot: stableport.io

Colombia leading the LATAM stablecoin race by a country mile

Next stop: NYC for @blockworksDAS 🚀

Get it right and the UK will have a seat at the table in the future payments landscape. Get it wrong and the UK risks being relegated to slow, legacy rails while the world moves on.

Fed Chair nominee Kevin Warsh on Bitcoin:

warming up for F1 vibes with @SuperteamAE🔥

Global payments shouldn’t crawl. Stableport on Polygon brings fast, low-cost stablecoin flows worldwide.