Modern Treasury has announced the launch of its new payment service provider (PSP) called Payments, which seamlessly integrates traditional fiat payment systems with stablecoin transactions. This innovative platform aims to streamline payment processes by combining various payment rails, including ACH transfers, wire payments, and real-time payment networks like RTP and FedNow.
The Payments platform now supports stablecoin settlements, specifically USDG, USDP, and USDC, with plans to incorporate USDT in the future. This integration was facilitated by Modern Treasury”s acquisition of Beam, a firm focused on stablecoin and fiat payments, completed in October. Additionally, a strategic partnership with Paxos has been established to enhance the platform”s regulated stablecoin capabilities and settlement features.
Modern Treasury”s Payments platform enables businesses to programmatically open payment accounts and manage transactions across multiple methods, including ACH, wire, and stablecoins. Each account is equipped with a comprehensive ledger that tracks balances and transaction histories, ensuring transparency and efficiency. The underlying infrastructure has already processed over $400 billion for various clients, including Anchorage Digital, Float, Gusto, Navan, Procore, and Sling Money.
One of the key features of this new system is its unified compliance framework, which simplifies the process for companies to manage both fiat and digital asset payments. With a single API, businesses can connect to all payment rails while centralizing their data management. This eliminates the need for multiple providers and disparate technical integrations.
Moreover, the Payments platform incorporates KYC (Know Your Customer) and KYB (Know Your Business) verification processes for users, ensuring robust compliance in account opening, fund collection, and payment issuance. The pricing model is designed to be usage-based, allowing companies to start operations without facing long-term volume commitments. This flexibility enables businesses to scale by adding direct banking partners while maintaining the same integration.
This offering is particularly targeted at companies that embed payments within their products, develop marketplaces, or launch financial technology applications, effectively merging traditional banking infrastructure with blockchain technology and compliance into a cohesive solution.
