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Column launched new stablecoin infrastructure, connecting USDC▼$0.9998 and USDT▼$0.9996 directly with US dollars and the payment rails already in its banking platform.
The rollout was announced by co-founder and CEO William Hockey on September 16, as part of a larger expansion which includes full-stack card issuing, global banking, and multicurrency accounts.
This stablecoin service allows users to convert digital dollars to fiat currency, and vice versa, around the clock. According to Column, stablecoin addresses and bank accounts live on the same ledger, meaning clients do not need to prefund their balance with an outside orchestrator.
Businesses can also send and receive USDC and USDT on supported blockchains, or route funds using payment rails including ACH, FedNow, RTP and SWIFT.
According to Column, USDC and USDT may be moved across Solana, Ethereum and other networks with key management, liquidity and compliance abstracted from customers, and private-key management is not required by customers participating in this service.
Column offers a model of a cross-border transaction where a business receives USDC, converts it to dollars, then spreads it to multiple potential end destinations.
So, part can go through the U.S. bankent abroad. Hockey said all of this can happen within seconds
As part of the launch, Column’s card infrastructure has grown; previously only powering card programs for others, Column built its own issuer processor, which combines the bank, processing layer and capital in a single integration.
Customers can pay using Visa and Mastercard debit, credit and stablecoin-backed cards. According to Column, a customer’s stablecoin balance can be used to spend immediately and also be used for settlement within the network.
Global banking provides U.S. dollar or local-currency accounts and cards to customers verified outside the United States.
Column has not published any list of available jurisdictions; instead, availability is determined based on supported markets, verification requirements, as well as building on the same infrastructure and compliance tooling.
The fourth product offers multicurrency accounts with unique numbering for receiving, holding and sending currencies while converting to and from dollars whenever needed and offering connectivity with local payment infrastructures such as SEPA Instant and Faster Payments.
According to Column, this architecture allows stablecoins, bank accounts, cards and foreign-currency payments to operate on a single stack instead of multiple providers.
The platforms are already being used at scale, with Hockey saying each processes billions of dollars for fintechs such as Ramp, Brex, Bilt, Mercury, Slash and Kapital. Column separately says its stablecoin product is already doing tens of billions of dollars in annualized volume.
The product’s launch follows the company’s goal to converge crypto settlement and established banking rails onto a single infrastructure, with stablecoin conversion built as a native banking service rather than as a separate layer.
Source: <a href="https://<a href="https://xpertsstudio.com/bitcoin-cash-rises-3-6-on-grayscale-etf-filing-news-top-stories/” title=”Bitcoin Cash Rises 3.6% on Grayscale ETF Filing News | Top Stories”>bitcoinfoundation.org/news/stablecoins/column-launches-instant-24-7-usdc-and-usdt-conversion-across-banking-and-payment-rails/” target=”_blank” rel=”nofollow noopener”>bitcoinfoundation.org