Column Launches Stablecoin Settlement and Card Issuing

Column has added native stablecoin infrastructure to its banking core, allowing fintech customers to convert USDC and USDT to and from fiat around the clock without intermediaries or prefunding. The bank announced the product on September 16, alongside card capabilities that let fintechs authorize transactions against stablecoin balances and settle with Visa and Mastercard in stablecoins 24/7.

The launch brings functions that are often handled by separate banking, payments-processing and digital-asset providers under one platform. It also arrives as the major card networks broaden the hours in which stablecoin settlement can take place.

Column embeds USDC and USDT conversion in its banking core

Column’s banking core now supports 24/7 conversion between fiat and USDC or USDT, according to the company’s announcement. Column said the design eliminates the need for intermediaries and prefunding.

Solana and Ethereum are supported, as are fiat rails including SWIFT, RTP and checks.

That capability is central to Column’s pitch: fintechs can move stablecoin and fiat through the same infrastructure as their banking operations instead of connecting a separate provider for each step.

Stablecoin balances for card authorization and settlement

Column also introduced stablecoin-backed card capabilities. It said fintechs can authorize card transactions against stablecoin balances immediately after those balances are received, rather than waiting for a separate conversion or funding process before the funds can be used.

The company said its platform supports 24/7 settlement in stablecoins with both Visa and Mastercard. That feature addresses the gap between continuously operating blockchain-based assets and payment-network settlement schedules that have historically been more constrained by banking hours.

The announcement does not describe individual card-program launches or identify which stablecoin, network or chain configurations will be used by particular customers. Its stated proposition is infrastructure for fintechs building such programs, not a consumer-facing card product under the Column brand.

Column’s official stablecoin product launch visual. — Source: Column

One API targets the fintech infrastructure stack

Column is presenting one API for orchestration, card issuing and processing, with the aim of serving as a single infrastructure provider for fintech card programs that might otherwise use separate banks, processors and stablecoin vendors. It said the stablecoin product was developed with fintechs including Slash and Brex and is processing tens of billions of dollars in annualized volume, a company claim not independently detailed in the announcement.

The expansion also includes global bank accounts and fits a broader one-stop-shop strategy for fintech companies, Bloomberg Law reported. The report identified Mastercard-owned BVNK and Marqeta among competing providers.

For fintech operators, consolidation could reduce the systems needed to receive assets, convert value, issue cards and settle network obligations. The effect on costs and deployment speed will depend on the terms and configurations available to individual programs.

Card networks are widening stablecoin settlement windows

Visa had more than 160 stablecoin-linked card programs worldwide and an annualized stablecoin settlement run rate above $20 billion, according to figures cited by Mastercard.

Mastercard said on June 3 that it would support regulated stablecoins for intraday settlement as well as settlement on weekends and holidays, according to its announcement. Column’s release comes against that expanding settlement backdrop.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.