Wirex BaaS Hits $1 Billion in Annualised On-Chain Stablecoin Volume in 131 Days, Setting Industry Record

Wirex, the London-based stablecoin payment infrastructure provider, announced on April 15, 2026 that its Banking-as-a-Service (BaaS) platform has reached over $1 billion in annualised on-chain stablecoin volume in just 131 days since launch, the fastest stablecoin payment infrastructure to hit that milestone on record [1]. The company processed $105 million in on-chain card volume in March 2026, an annualised run rate of approximately $1.3 billion that exceeded the combined transaction counts reported by Rain and RedotPay for the same period [1].

A Record That Resets the Industry Benchmark

The previous industry record belonged to RedotPay, which reached the same threshold in 276 days [1]. Rain required 840 days, placing Wirex more than twice as fast as RedotPay and roughly six times faster than Rain [1]. All volume figures are publicly verifiable on-chain via the Payment Scan platform at paymentscan.xyz [1].

Since its November 2025 launch, Wirex BaaS has processed over 2.4 million on-chain transactions, including nearly 1.3 million in March alone, with on-chain card volume growing 34% from February to March 2026 [1].

"Stablecoins are transforming financial services, and Wirex is enabling platforms globally to adopt them as real payments infrastructure. We provide what competitors can't: full-stack integration, backing from the biggest payment networks, and a decade-long track record of compliance and innovation. With an average integration time of just 44 days, partners are choosing Wirex because they need a fast, trusted solution that scales globally." - Pavel Matveev, Co-Founder, Wirex [1]

The BaaS Engine Behind the Numbers

Wirex BaaS launched in November 2025, enabling fintech apps, neobanks, and digital platforms to offer regulated financial products on stablecoin rails through a single API [1]. The eight-product catalogue covers stablecoin card issuance, cross-border payouts, push-to-card payments, embedded banking, 1:1 fiat-to-stablecoin conversion, on-chain yield, and cashback [1]. Wirex is the only stablecoin BaaS provider with Visa and Mastercard principal membership for dual USDC and EURC settlement [1].

The platform has attracted over 300 partners since launch, averaging 44 days per integration [1]. Named clients include Cardano, Simple App, COCA, Chimera Wallet, and Collective Memory [2].

Utorg Partnership Brings the Stack to 2 Million Self-Custody Users

On April 8, 2026, Wirex announced a BaaS partnership with Utorg, a global fintech company building consumer and business infrastructure for the stablecoin economy [2]. Utorg serves more than 2 million users across 190+ countries through self-custodial wallets and instant cryptocurrency purchase tools [2]. Through the Wirex BaaS integration, Utorg's users gain access to non-custodial card issuance, EUR and USD IBAN accounts with SEPA Instant and Faster Payments connectivity, and real-time crypto-to-fiat conversion at the point of sale with zero prefunding requirements [2].

"Our BaaS platform exists so that builders like Utorg can focus on their product instead of piecing together payment infrastructure from scratch. Utorg has built something exceptional, a frictionless on-ramp experience loved by hundreds of thousands of users globally. With Wirex BaaS, they now have the card and banking rails to complete that journey from purchase to spend. That's what full-stack BaaS makes possible." - Daniel Rowlands, General Manager, Onchain Finance, Wirex [2]

Eugene Petrakov, Co-founder of Utorg, described the rationale: "We built Utorg to bridge the gap between the traditional financial system and the emerging stablecoin economy. Our goal is to give users a simple way to buy digital assets, keep them in self-custodial wallets, and use them in everyday life. Partnering with Wirex allows us to extend that experience further by enabling global spending directly from the same environment where users manage their crypto." [2]

Utorg users can now spend their self-custodial crypto holdings via Wirex-powered debit cards at over 80 million merchants across 130+ countries, with Apple Pay and Google Pay support [2].

Stellar and Soroban: Building Native Blockchain Payment Rails

On April 2, 2026, Wirex and Ultra Stellar disclosed the launch of a native payment infrastructure built directly on Soroban, Stellar's smart contract platform [4]. Ultra Stellar operates LOBSTR and StellarX, Stellar's largest wallet and leading decentralised exchange [4]. The two companies are co-developing a unified on-chain financial layer enabling stablecoin bank accounts, global card issuance, cross-border payouts via ACH, SEPA, PIX, FPS, SWIFT, and Push-to-Card, and on-chain yield of up to 6% APY with no lock-ups [4]. The infrastructure is also designed to support autonomous AI agents capable of transacting programmatically across borders using stablecoins [4].

Crossmint Integration Closes the Wallet-to-Card Gap

On March 30, 2026, Wirex and Crossmint announced a direct integration connecting Crossmint's smart wallet and stablecoin orchestration infrastructure with Wirex's card issuance platform [3]. Crossmint handles smart wallet creation, cross-chain stablecoin orchestration, and blockchain abstraction; Wirex handles card issuance, banking accounts, and payment rails [3]. The combined stack allows fintechs to offer Wirex debit cards funded directly from stablecoin wallets, accepted at over 80 million merchants worldwide, without building separate infrastructure [3].

"This is what it looks like when two pieces of infrastructure are built to fit together. Fintechs can now give their users a Wirex debit card funded directly from a Crossmint wallet, and as they grow, the full BaaS stack is there when they need it." - Daniel Rowlands, General Manager, Onchain Finance, Wirex [3]

Rodri Fernandez Touza, Co-Founder of Crossmint, added: "The gap between holding stablecoins and spending them has always been an integration problem. You needed a wallet provider, a card issuer, and a compliance framework, all connected. This closes it. Fintechs get one stack, and their users get a Wirex debit card funded directly from their Crossmint wallet. Stablecoins become spendable, not just holdable." [3]

Crypto card volume has grown at 106% annually since 2023, reaching an $18 billion annualised market by late 2025, nearly matching all peer-to-peer stablecoin transfers combined [3]. Non-USD stablecoin transfer volume has risen 16 times between 2023 and 2026, with 80% of stablecoin activity now attributable to payments, payroll, and settlement rather than speculative flows [1]. Wirex was founded in 2014, supports 200+ cryptocurrencies and fiat currencies, has processed more than $20 billion in lifetime transactions across 130 countries, and counts over 7 million registered users globally [2].

References

[1] Wirex Blog - "Wirex Sets New Record As Fastest-Growing Stablecoin Infrastructure" (April 15, 2026): https://www.wirexapp.com/post/wirex-sets-new-record-as-fastest-growing-stablecoin-infrastructure [2] PR Newswire via Investing.com - "Wirex and Utorg Bring Seamless Crypto-to-Card Spending to 2M+ Users Worldwide" (April 8, 2026): https://www.investing.com/news/cryptocurrency-news/wirex-and-utorg-bring-seamless-cryptotocard-spending-to-2m-users-worldwide-4602997 [3] PR Newswire - "Wirex and Crossmint Announce Card Integration to Connect Stablecoin Wallets and Real-World Spending" (March 30, 2026): https://www.prnewswire.com/news-releases/wirex-and-crossmint-announce-card-integration-to-connect-stablecoin-wallets-and-real-world-spending-302728579.html [4] PR Newswire - "Wirex and Ultra Stellar Launch Native Stellar Payment Infrastructure" (April 2, 2026): https://www.prnewswire.com/news-releases/wirex-and-ultra-stellar-launch-native-stellar-payment-infrastructure-to-power-millions-of-users-and-ai-agents-302732712.html