Unlimit enters stablecoin infrastructure race with decentralized clearinghouse

Table of Contents

Fintech payments provider Unlimit has launched a non-custodial platform designed to serve as a leading stablecoin clearinghouse and provide a direct global off-ramp.

The company said the service simplifies stablecoin swaps by combining decentralized exchange mechanisms with existing global payment networks.

According to Tuesday’s announcement, the platform will allow users to exchange and cash out stablecoins through a single interface, and aims to reduce fragmentation in the stablecoin market under “gasless” and zero-fee conversion.

Unlimit calls the service “the first non-custodial stablecoin clearing house,” offering direct off-ramps in over 150 currencies.

Founded in London in 2009, Unlimit provides payments infrastructure to businesses across 200 jurisdictions around the world, according to its website.

CEO Kirill Ebbs said in a statement that stablecoins are increasingly acting as a digital “extension of the US dollar,” positioning the platform as a way to “bring together the world of DeFi and traditional finance.”

The company did not reveal which stablecoins the platform will initially support.

Related: Coinbase’s x402 adds ID checks to power AI stablecoin payments

Fintech expands into stablecoins

Several global fintech payment companies have recently entered the cryptocurrency space, specifically targeting the stablecoin space.

In May, Stripe introduced stablecoin-based accounts that allowed customers to send, receive, and hold balances in USDC (USDC) and Bridge’s USDB (USDB), which functioned much like traditional dollar accounts. This capability was made possible through Stripe’s acquisition of Bridge in 2024 and rolled out to clients in over 100 countries.

In October, Revolut introduced a 1:1 exchange between the US dollar and major stablecoins, allowing its 65 million users to exchange up to $578,630 every 30 days with no fees or spreads. According to a LinkedIn post by Leonid Vasilikov, Revolut’s head of crypto products, the update aims to eliminate friction between fiat and cryptocurrencies.

In November, Jack Dorsey’s fintech company Block (formerly Square) announced plans to add the ability to send and receive stablecoins to its Cash App platform.

Global payment giants such as Visa and Mastercard are also joining the effort.

In October, Visa revealed plans to add support for stablecoins across four blockchains, and CEO Ryan McInerney told investors that the company would continue to expand its stablecoin offerings after a strong year.

In November, Mastercard partnered with Thunes to enable near real-time payments to stablecoin wallets through the Mastercard Move network.

According to DefiLlama data, the total stablecoin market is approximately $306.8 billion.