Last updated on March 31st, 2026 at 12:56 am
Wirex’s Banking-as-a-Service platform has crossed a major milestone in the stablecoin payments space, processing more than $850 million in annualised on-chain payment volume only four months after its launch.
The infrastructure, introduced in November by Wirex, has expanded rapidly even as the broader crypto market experienced a downturn in February. During that period, many stablecoin payment providers reported shrinking activity, but Wirex BaaS recorded 10-times month-over-month growth, according to the company.
1/ Stablecoin card payments at real scale, powered by Wirex BaaS. 📈
We have surpassed $850M annualised onchain payment volume through our stablecoin payment rails, with 10x MoM growth, even during the February market downturn. 👇 pic.twitter.com/8l41FUXEoP
— Wirex (@wirexapp) March 5, 2026
Rapid adoption fuels stablecoin payment expansion
Wirex attributes the surge in usage to increasing demand for stablecoin infrastructure capable of handling real-world payment flows rather than pilot projects. Even as liquidity fragmentation and scaling limitations affected parts of the industry, the company said its infrastructure continued to process higher transaction volumes without disruption.
According to Wirex co-founder Pavel Matveev, reaching $850 million in annualised volume in such a short timeframe highlights the growing need for stablecoin payment systems that operate reliably at production scale.
Matveev noted that the platform’s growth during a market downturn suggests the activity is being driven by real usage rather than speculative market cycles. Wirex also partnered with decentralized social platform Collective Memory to launch the Collective Memory Card, giving creators real-time access to their onchain earnings.
Infrastructure shift signals stablecoins’ next phase
The reported $850 million annualised volume represents payment activity processed through Wirex’s stablecoin rails and related transaction flows. For companies building financial products with stablecoins, measurable throughput and operational reliability are becoming key indicators of infrastructure readiness.
Wirex BaaS provides a non-custodial payment layer designed to bridge blockchain settlement with traditional financial networks. The platform supports several services, including stablecoin card issuance connected to global payment networks, fiat-to-stablecoin conversion, cross-border payouts, push-to-card payments and embedded banking features.
The growth of stablecoin payment infrastructure is also attracting wider industry coordination. Several major blockchain organizations formed the Blockchain Payments Consortium (BPC). The alliance aims to develop a shared framework for moving stablecoins across different blockchain networks, helping standardize crosschain payments and provide clearer regulatory alignment.
With stablecoin volumes now visible and auditable on-chain, the company argues the sector is moving beyond experimentation into what it calls the “infrastructure phase” where adoption is increasingly measured by payment activity such as spending, payouts and settlement across global markets.
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