Reference stack
Add stablecoin settlement
An institutional treasury and cross-border settlement stack using stablecoins as a settlement rail rather than a consumer checkout product.
Intended audience and markets
Audience
Markets
Infrastructure layers
Fiat banking connectivity
RequiredCollect, hold and pay fiat around stablecoin transactions.
Selection criteria
- Bank eligibility for digital-asset activity
- Account and settlement currencies
- Cut-offs and reconciliation
On/off-ramp and orchestration
RequiredConvert and route between fiat and stablecoins.
Selection criteria
- Contracting entity and licensing
- Supported fiat and stablecoin pairs
- Settlement and prefunding model
Provider options
Liquidity and execution
RequiredSource liquidity and manage conversion exposure.
Selection criteria
- Liquidity depth and counterparties
- Execution and spread transparency
- Settlement and credit model
Custody and wallet controls
RequiredHold assets and enforce transaction policy.
Selection criteria
- Qualified or regulated custody where required
- Key and approval model
- Network and asset coverage
Settlement networks
RequiredSelect networks based on stablecoin availability, finality, cost and operational support.
Selection criteria
- Issuer-supported network
- Finality and fees
- Custody and analytics support
Provider options
- EthereumBlockchain NetworksRole: General-purpose settlement network
- SolanaBlockchain NetworksRole: High-throughput settlement network
- StellarBlockchain NetworksRole: Payments-oriented network
- BaseBlockchain NetworksRole: Coinbase-developed network
- TronBlockchain NetworksRole: Stablecoin settlement network
Compliance and reconciliation
RequiredScreen onchain activity and reconcile fiat and token balances.
Selection criteria
- Chain coverage
- Counterparty attribution
- Travel Rule and accounting outputs
Implementation sequence
- Fiat banking connectivity
- On/off-ramp and orchestration
- Liquidity and execution
- Custody and wallet controls
- Settlement networks
- Compliance and reconciliation
Regulatory considerations
- Stablecoin use may trigger payment, e-money, money-transmission, crypto-asset, custody or securities rules depending on jurisdiction and role.
- Issuer, reserve, redemption and counterparty risk must be assessed separately from blockchain-network risk.
Technical considerations
- Maintain a transaction state machine spanning bank, provider, wallet and blockchain confirmations.
- Set exposure limits by issuer, bank, custodian, network and liquidity counterparty.
- Design contingency plans for depegging, chain congestion, asset freezes and redemption delays.
Questions to ask providers
- Which legal entity contracts for each service and in which jurisdictions?
- Which responsibilities remain with the product operator rather than the provider?
- What are the implementation, approval, testing and migration timelines?
- How are incidents, exits, data portability and business continuity handled?
- Which stablecoin and issuer satisfy the legal, liquidity and redemption requirements?
- Who bears loss if a transaction is sent to the wrong network or address?
What this stack does not cover
- This is not a stablecoin issuance stack and does not cover consumer checkout UX.
Related stacks
Reviewed on 2026-07-07.
Provider options are examples of infrastructure roles, not endorsements or a guarantee of suitability, availability or regulatory compliance. Confirm requirements for your product with each provider and qualified advisers.