New Service Launches 24/7 Real-Time Stablecoin Funding for US Card Programs

Highnote and BVNK have introduced a pioneering service that facilitates constant, real-time stablecoin funding for U.S. card programs, irrespective of traditional banking hours.

This innovative feature aims to eliminate constraints imposed by conventional banking schedules, especially benefitting fintech firms and global enterprises operating in different time zones.

Through this collaboration, Highnote’s customers can utilize stablecoins to fund program accounts denominated in USD. These funds are swiftly converted into fiat currency and immediately deposited with sponsor banks, sidestepping the typical delays found in traditional payment channels.

Pertinent Applications in Swift-Financial Scenarios

Representatives from Highnote highlighted that the capability to transfer funds without delays is particularly significant for use cases involving high-frequency disbursements. This includes supplier payments within accounts payable automation, instantaneous reimbursements in expense platforms, real-time settlements in online marketplaces, and dynamic funding flows in fleet and credit programs.

Officials at BVNK pointed out that the integration underscores how stablecoins can enhance financial operations by circumventing the hurdles of conventional banking systems. They also mentioned that their infrastructure is built to enable instant value transfer across borders, supporting the development of new financial service models.

This stablecoin funding function is currently being rolled out with early adopters and both companies anticipate this as an initial step towards broader digital asset integration within Highnote’s platform. Future developments may explore enhanced functionalities in areas such as acquiring, issuing, and credit management.

Highnote specializes in Embedded Finance solutions, providing businesses with a comprehensive platform to integrate card payments, ledger functions, and digital wallets into their products. Acting as both a card issuer processor and program manager, it offers an all-encompassing solution for debit and credit card programs.