Conduit Bridges Fiat and Crypto with New Global Payment Accounts

BOSTON, MA – December 11, 2025 – In a significant move aimed at redefining the architecture of global commerce, cross-border payments firm Conduit today unveiled a new platform that merges the worlds of traditional finance and digital currency. The company has launched multicurrency virtual accounts, providing businesses with a single, unified system to hold, manage, and transact in both fiat currencies and stablecoins.

This new offering equips businesses with dedicated virtual bank account numbers (VANs) and international bank account numbers (IBANs), which are mapped to regulated bank accounts. It allows customers to hold major currencies like USD, EUR, and GBP alongside various stablecoins, executing payments globally with what the company promises will be "unprecedented simplicity." The move directly targets the long-standing friction, delays, and high costs associated with traditional international payment systems, offering a glimpse into a hybrid financial future.

A Unified Vision for Global Payments

For decades, businesses operating across borders have navigated a complex and often inefficient web of correspondent banks, a system largely governed by the SWIFT network. This process can be slow, with payments taking days to settle, and opaque, with intermediary bank fees eroding the final transacted amount. Conduit’s latest innovation is designed to dismantle these barriers.

The new virtual accounts enable near-instant pay-ins and pay-outs across 15 fiat currencies and multiple stablecoins. By providing unique, named account numbers for both inbound deposits and outbound payments, the system brings a level of clarity and functionality typically associated with a domestic corporate bank account to the international stage. Businesses can now connect seamlessly to major payment hubs in the US and China, as well as over 100 other countries, using established rails like Fedwire and SWIFT, but with the underlying settlement powered by the speed of blockchain.

“Our new virtual accounts showcase the power of Conduit’s vision, to allow customers anywhere in the world to send or receive any currency they need to, at any time. They unite fiat and stablecoin money flows, in a powerful and simple way,” said Kirill Gertman, co-founder and CEO of Conduit, in the announcement. “We’ve seen how existing infrastructure fails businesses globally, and think this can be a major answer.”

This unification is the core of the value proposition. A company in the United States can receive a payment in Euros via SEPA into its virtual IBAN, hold the funds as EUR, convert them near-instantly to a USDC stablecoin for a cross-border transfer to a supplier in Asia, or pay out in local currency, all from a single platform. This flexibility aims to dramatically reduce working capital requirements and eliminate the settlement risks tied to multi-day transfer times.

Bridging Traditional Banking and Blockchain Innovation

While many crypto-native firms have promised to revolutionize payments, widespread adoption has been hampered by regulatory uncertainty and a reluctance from established businesses to operate solely within a blockchain ecosystem. Conduit’s strategy appears to be one of pragmatic integration rather than outright replacement. The platform is built on a robust network of nearly 30 global banking partners, including six live partners in the United States, lending it the credibility and connectivity of the traditional financial world.

This hybrid model leverages the best of both systems. It uses stablecoins for what they do best: providing a near-instant, 24/7 settlement layer for value transfer. At the same time, it uses traditional banking rails for on-ramps and off-ramps, allowing businesses to interact with the system using the fiat currencies and payment methods they are already familiar with. Research indicates this "fiat ↔ stablecoin fusion" is central to its technology, allowing for seamless conversions that unlock the speed of digital assets without forcing users to abandon conventional finance.

Crucially, the entire infrastructure is underpinned by a strong compliance framework. The virtual accounts are issued through licensed banking partners with full Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols. The platform features integrated sanctions screening and transaction monitoring, and Conduit Technology Inc. is registered as a Money Services Business (MSB) with both FinCEN in the United States and FINTRAC in Canada. This focus on regulatory assurance is designed to give CFOs and treasury managers the confidence needed to adopt such a novel solution.

Powering the Next Wave of Embedded Finance

Beyond serving individual corporate clients, Conduit’s new offering is positioned as a foundational layer for the next generation of financial services. The company has introduced two distinct account types to serve different segments of the market. Corporate Treasury Accounts provide a dedicated, multi-currency bank account for a company to manage its own working capital and liquidity.

More transformative, however, are the Customer Virtual Accounts. These scalable, publicly addressable accounts allow Conduit’s clients—such as marketplaces, payroll providers, and trading platforms—to issue unique virtual accounts to their own end-customers. This enables those businesses to build powerful embedded finance solutions directly into their products. For example, a global freelance marketplace could issue virtual accounts to its workers worldwide, allowing them to receive payments in their preferred currency, whether fiat or stablecoin, without ever leaving the platform. This capability to segregate client funds from operating funds ensures clear regulatory alignment and opens the door to a host of new B2B innovations.

This infrastructure-as-a-service model suggests a broader ambition to become the "plumbing" for a new, more efficient global economy. By providing the tools for other companies to build upon, Conduit is fostering an ecosystem where seamless global payments become a standard feature, not a complex add-on.

Market Momentum and a Competitive Edge

Conduit’s announcement comes on the heels of significant growth and investor confidence. In May 2025, the company secured a $36 million Series A funding round co-led by prominent venture firms Dragonfly and Altos Ventures, with strategic participation from Circle Ventures, the investment arm of the issuer of the USDC stablecoin. The funding, which brought its total capital raised to $53 million, followed a period of explosive growth in which the company reported a 16x surge in transaction volumes in 2024, surpassing $10 billion in annualized payment volume.

This momentum positions Conduit as a formidable player in an increasingly crowded field. While fintechs like Wise and Revolut have made strides in simplifying consumer and SME international payments, Conduit’s native integration of stablecoins within a compliant, bank-partnered framework offers a distinct advantage, particularly for B2B and treasury use cases. Its approach directly challenges the slow, correspondent-banking model of SWIFT while providing a more regulated and integrated alternative to purely crypto-based payment firms.

Investors who have backed the company view its model as critical infrastructure for the future of the global economy. The consensus is that by solving real, tangible pain points for businesses, especially in emerging markets, the platform demonstrates that stablecoins are evolving from a speculative asset into a foundational tool for international commerce. With plans to expand its footprint further into Asia and Latin America, Conduit is not just building a product, but is actively laying the tracks for a more interconnected and efficient global financial system.