Unlimit Launches Non-Custodial Stablecoin Clearinghouse for Global Payments

Unlimit Launches Stablecoin Clearinghouse

Fintech payments provider Unlimit has unveiled a non-custodial platform designed to serve as a central clearinghouse for major stablecoins and facilitate direct global off-ramps. The company stated that this service will streamline stablecoin transactions by integrating decentralized exchange (DEX) mechanics with its existing global payments infrastructure.

Announced on Tuesday, the platform will provide users with a unified interface for swapping and cashing out stablecoins, addressing the fragmentation within the stablecoin market by offering “gasless” and zero-commission conversions. Unlimit characterizes this offering as the “first non-custodial stablecoin clearinghouse,” providing direct off-ramps in more than 150 currencies.

Established in London in 2009, Unlimit offers payment infrastructure solutions to businesses in over 200 jurisdictions worldwide, according to its website.

In a statement, CEO Kirill Eves highlighted the growing role of stablecoins as a digital extension of the U.S. dollar, positioning the platform as a conduit between the DeFi ecosystem and traditional finance. The company has yet to disclose which specific stablecoins will be initially supported.

Fintechs Expanding into Stablecoin Offerings

Several global fintech payment companies have recently ventured into the cryptocurrency space, focusing particularly on the stablecoin sector. In May, Stripe introduced stablecoin-based accounts, allowing customers to send, receive, and hold balances in USDC and Bridge's USDB, functioning similarly to traditional dollar accounts. This feature, enabled through Stripe’s acquisition of Bridge in 2024, has been rolled out to clients in over 100 countries.

In October, Revolut launched 1:1 conversions between U.S. dollars and major stablecoins, enabling its 65 million users to exchange up to $578,630 every 30 days without incurring fees or spreads. This update aimed to reduce friction between fiat and crypto, according to a LinkedIn post by Leonid Bashlykov, Revolut’s head of crypto product.

In November, Jack Dorsey’s fintech company, Block (formerly Square), announced plans to integrate stablecoin send-and-receive capabilities into its Cash App platform.

Major global payment networks like Visa and Mastercard are also increasing their involvement. In October, Visa revealed plans to support stablecoins across four blockchains, with CEO Ryan McInerney stating that the company will continue to expand its stablecoin offerings following 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 capitalization stands at approximately $306.8 billion, according to data from DefiLlama.