- Payment firm Stripe acquires stablecoin platform Bridge.xyz for $1.1 billion, marking a significant move in crypto payments.
- BlindPay, a Y Combinator 2025 startup, targets Latin American markets with transaction-fee based payment solutions.
- Monthly payment volumes for BlindPay grew from $30,000 to $300,000, with projections reaching $2.5 million.
- Cross-border payment industry processes $33 trillion annually, while stablecoins moved $8.5 trillion in 2024.
- Latin American crypto adoption, particularly in Brazil, ranks among the top ten globally according to Chainlysis data.
Payment technology giant Stripe has acquired stablecoin infrastructure provider Bridge.xyz for $1.1 billion, while emerging competitor BlindPay positions itself to capture Latin American markets through small and medium-sized business focused payment solutions.
Latin American Focus
While Bridge.xyz concentrated on U.S. and European enterprise clients, BlindPay targets emerging markets. CEO Bernardo Simonassi Moura says, "What differentiates us from Bridge is our focus on emerging markets. We already operate in Argentina, Mexico, Colombia and Brazil, and we have our compliance and regulations in place to onboard customers in those regions."
The company’s approach mirrors Shopify’s business model, charging transaction fees rather than monthly commitments. This aligns with a16z crypto’s analysis suggesting smaller businesses will lead stablecoin payment adoption to avoid traditional banking fees.
Market Performance
Since July, BlindPay has secured 19 customers across gaming, payments, and decentralized autonomous organizations (DAOs). Notable clients include LootRush, Hifibridge, and WalaPay. Brazil’s position in the top ten countries for crypto adoption strengthens BlindPay’s regional strategy.
Future Development
The traditional cross-border payment system, SWIFT, processes $33 trillion annually. Stablecoins – cryptocurrency tokens pegged to stable assets like the U.S. dollar – processed $8.5 trillion in 2024. "If I want to send money from Brazil to Argentina using stablecoins, it takes 30 seconds, while SWIFT takes five business days," Moura explains.
BlindPay’s roadmap includes banking-as-a-service features powered by stablecoins, card network integration, and facilitating tokenized stock purchases from regulated regions. The company’s four co-founders bring experience from Lending Club and Brazilian fintech companies, positioning them to bridge traditional finance with cryptocurrency solutions.
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