TLDR
- Column launched four new financial infrastructure products covering stablecoins, card issuing, global banking and multicurrency accounts.
- The stablecoin tool lets businesses convert USDC and USDT into U.S. dollars and connect to payment rails around the clock.
- Column built its own issuer processor, combining banking, processing and capital into one platform.
- The global banking product lets verified customers outside the U.S. access dollar or local currency accounts and cards.
- Column says the new tools are already moving billions of dollars for fintech firms like Ramp, Brex and Mercury.
Column has rolled out four new financial products built around stablecoins, card issuing, global banking and multicurrency accounts. The company announced the launch on September 16.
Co-founder William Hockey said the release completes years of work building the pieces fintech companies need to launch financial products. Businesses can now use one platform instead of stitching together separate banks and processors.
Hockey said each product is already handling billions of dollars for fintech clients. Those clients include Ramp, Brex, Bilt, Mercury, Slash and Kapital.
Stablecoins Now Move With Bank Transfers
The first product connects USDC and USDT directly to U.S. dollar accounts and payment networks. Businesses can convert stablecoins into dollars and move funds through rails like FedNow or SWIFT.
Hockey gave an example where a company receives USDC from Mongolia. The funds convert to dollars, and part of the payment goes to a U.S. bank while another portion converts to euros and heads overseas.
He said the entire process can happen in seconds through a handful of API calls. No outside middleman is needed to complete the transfer.
The launch comes as stablecoin use in payments keeps growing. Stablecoin card spending passed $10.9 billion in total as of August, according to Paymentscan data cited by RedotPay.
Monthly stablecoin card spending crossed $1 billion in July for the first time. That figure was about $339.4 million a year earlier.
Ramp, one of the companies using Column’s infrastructure, launched its own stablecoin accounts on Solana in July. Businesses can hold USDC and USDT and pay vendors in more than 140 countries.
Card Issuing Adds Banking and Processing Together
Column’s second product gives clients access to its full card issuing stack. That includes banking, processing and capital in a single connection.
Column built its own issuer processor rather than relying on outside partners. Clients can now issue debit, credit and stablecoin backed cards on the Mastercard and Visa networks.
Visa reported that more than 160 stablecoin linked card programs were running worldwide during its fiscal second quarter. Payment volume from those programs grew nearly 200% year over year.
Mastercard added six regulated stablecoins to its settlement network in June. These include USDC, PYUSD, USDG, USDP, RLUSD and SoFiUSD.
Column’s third product extends accounts and cards to verified customers outside the United States. Businesses can offer dollar or local currency accounts using the same compliance tools built for domestic operations.
Column did not list every country where the service works. Availability depends on where its banking infrastructure and verification systems currently operate.
The fourth product adds numbered accounts for foreign currencies. Customers can receive, hold and send money outside the dollar and convert funds instantly.
These accounts connect to international networks including SEPA Instant. That gives businesses another option for cross border payments.
Hockey said all four products share the same underlying technology. That allows funds to move between stablecoins, bank accounts, cards and foreign currencies without separate integrations.
Column has not shared exact transaction totals for each product. Hockey said the tools are already processing billions of dollars for some of the largest fintech companies in the world.
