Payments Roundup - May 16-31
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Source: https://x.com/solanapayments/status/2062923593005097046 https://preview.redd.it/t9chybu0ii5h1.png?width=680&format=png&auto=webp&s=52e6c2edf879011029d904706c308b3a5e711915 In May, SoFi became the first U.S. nationally chartered bank to launch a stablecoin, with SoFiUSD going live on Solana, and USDC arrived on Cash App (wonder if it works with the magic wand?). At the Superteam Summit in Kazakstan, AirAsia MOVE, Interbix, Solana signed a letter of intent to bring Kazakhstan's Tenge stablecoin (KZTE) to Solana. Stablecoin diversification, card volume, and USDC activity all kept climbing, with Solana setting a new monthly high of 4.28M active USDC senders. Here's what happened over the second half of May: Major Moments USDC on Solana went live on @CashApp @SoFi became the first U.S. nationally chartered bank to launch a stablecoin, with SoFiUSD live on Solana @deel went live with stablecoin payouts on Solana The CLARITY Act cleared the Senate Banking Committee Stablecoins Issued @AirAsia MOVE, @Intebix , and Solana Foundation signed an LOI to bring Evo (KZTE), Kazakhstan's Tenge stablecoin, to Solana @flipcash launched USDF, a custom stablecoin built with @coinbase , live on Solana $USDG became @kamino 's largest stablecoin vault https://x.com/solana/status/2057796712593543415 https://preview.redd.it/128rc3z8ii5h1.png?width=483&format=png&auto=webp&s=e900c834a19475195d8be7ad638e2fa0475a3e59 Payments & Commerce @useDecal showcased stablecoin rails for Main Street merchants, ~1% fees, instant payouts, yield-funded loyalty @WalletConnect Pay enabled spending SOL, USDC, and USDT on Solana anywhere it's accepted @NectarFi integrated @MoonPay Deposits to fund accounts across Africa, Asia, and Latin America @Decaf_so enabled users to receive USDC from Cash App via Solana, then cash out or spend globally https://x.com/WalletConnect/status/2059258982620102707 https://preview.redd.it/eehixjhdii5h1.png?width=601&format=png&auto=webp&s=6d3a0c420edd52140d891b372a70fe61d163a007 Card Issuance @RedotPay rolled out the Solana card, available in nearly every major currency @AviciMoney brought Avici to web, cards, spends, and balances on desktop Stablecoin card volume on Solana kept accelerating, with @JupiterExchange Global spending up 648% over two months Lending & Credit @streamflow_fi introduced Streamflow Business, expanding from token infrastructure into broader business tooling https://x.com/solana/status/2060311603384569884 https://preview.redd.it/bgiejxphii5h1.png?width=608&format=png&auto=webp&s=b1575637d2b9817d545e1c7730446751b25bd55f Milestones @mayan moved $2.5B+ in stablecoins to Solana across 600,000+ transactions @humafinance crossed $13B in PayFi transactions on Solana and opened Huma Prime deposits to everyone @streamflow_fi marked five years of streaming payments, vesting, and staking on Solana Non-USDC/USDT stablecoin supply on Solana is up ~15x since January 2025 Solana recorded a new monthly all-time high of 4.28M active USDC senders in May Total stablecoin market cap crossed $323B this month, up 32% year over year https://x.com/solana/status/2060345412863836636 https://preview.redd.it/dxo08l5lii5h1.png?width=477&format=png&auto=webp&s=faf1c1d819abbbe46e6962f5c4d09e3383177cf1   submitted by   /u/ansi09 [link]   [comments]
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That Decal stat is interesting - 1% fees with instant settlement could actually make stablecoin payments competitive with traditional POS for small merchants, which is where real adoption happens. One thing we noticed when working on a Solana payments integration recently is that the UX gap between "technically possible" and "actually used by non-crypto people" is still huge. The infra is clearly there now (WalletConnect Pay, Cash App onramps, card issuance) but most merchant-facing products still feel crypto-native. The teams that figure out the abstraction layer - making it invisible that stablecoins are involved - are gonna win this space. We ended up working with Wevolv3 on the smart contract side for that project. They were solid at thinking through the actual user flow before writing code, which saved us from a lot of the "cool tech nobody uses" trap that so many payment products fall into.
yo this payments roundup is solid, appreciate the curation work saw the Decal and WalletConnect bits especially - we've been deep in Solana payments infra lately and the space is moving insanely fast ngl we work pretty closely with wevolv3 and they'd probably love to chat if you're building in this direction or just wanna connect with the team. want me to intro you?
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