Unlimit, a provider of fintech payments, has introduced a non-custodial platform aimed at acting as a clearinghouse for leading stablecoins while enabling direct global off-ramps. The service, according to the announcement on Tuesday, is designed to streamline stablecoin exchanges by integrating decentralized exchange systems with its already established global payment network.
Key Features of Unlimit’s Platform
- Simplified Stablecoin Swaps: Users will be able to convert and cash out stablecoins using a unified interface, greatly reducing fragmentation in the market. This will include gasless and zero-commission swaps.
- International Currency Support: Unlimit claims this service will support direct off-ramps to over 150 currencies.
- Market Influence: According to CEO Kirill Eves, stablecoins are emerging as a digital extension of the US dollar, with this platform linking decentralized finance (DeFi) to traditional financial systems.
Industry Trends
Recent developments have seen many fintech firms entering the stablecoin landscape. For instance:
- Stripe launched stablecoin accounts enabling transactions in USDC and the USDB currency.
- Revolut has introduced 1:1 conversions between US dollars and major stablecoins without fees for users.
- Block, previously known as Square, intends to implement stablecoin functionalities in its Cash App.
- Major companies like Visa and Mastercard are also making strides in the stablecoin arena.
The global stablecoin market stands at approximately $306.8 billion, but the future may see it grow as traditional finance integrates more with these digital assets.
