Corpay, a global payments company listed on the NYSE under the ticker CPAY, has introduced stablecoin wallets for its 800,000 business clients through a strategic collaboration with BVNK, a leading stablecoin infrastructure provider. The integration enables clients to manage stablecoin holdings alongside traditional fiat currencies within Corpay’s existing platform, giving them the ability to send, receive, and convert digital assets seamlessly.
Every month, Corpay processes over $12 billion in corporate payments and $26 billion in foreign exchange transactions across more than 145 currencies. By embedding BVNK’s technology, the company now offers 24/7 settlement capabilities that extend beyond conventional banking hours, making cross-border transactions faster and more efficient.
Mark Frey, Group President of Corpay Cross-Border Solutions, emphasized that stablecoins provide a continuous settlement layer that enhances their current infrastructure. He noted that BVNK supplies the necessary technology and compliance backbone to deliver these features securely on a massive scale. Jesse Hemson-Struthers, BVNK’s CEO, remarked that stablecoins are transforming global payments and that Corpay’s extensive reach makes them a perfect ally to mainstream these innovations.
Beyond client-facing services, Corpay will also adopt stablecoin rails for its own treasury operations, reducing the need for pre-funded accounts worldwide. Additionally, the firm has integrated blockchain-based settlement via JPMorgan’s Kinexys private chain. BVNK itself has seen rapid growth, with Mastercard agreeing to acquire it for up to $1.8 billion in March and Visa partnering earlier this year to support stablecoin payments through Visa Direct. The startup also secured $50 million in Series B funding from prominent investors like Haun Ventures, Coinbase Ventures, and Tiger Global.