SquareFi Launches Stablecoin Payments Platform, Targeting $50B in Annual Transaction Volume by 2028

SquareFi has officially exited stealth mode with the launch of a payments infrastructure platform built on stablecoin technology, marking a strategic expansion into digital asset settlement. The platform leverages PYUSD (Paxos USD) as its primary stablecoin and integrates Ripple’s XRP as a settlement layer for international transfers, significantly reducing cross-border processing times from days to seconds. The company’s infrastructure is designed to serve merchants and financial institutions globally, with initial support for $50 billion in annual transaction volume by 2028. SquareFi’s system processes payments at a cost of under $0.01 per transaction, a 70% reduction compared to traditional wire transfers. Early adopters include three regional payment processors and a multinational e-commerce platform handling over $1.2 billion in monthly sales. Market participants are closely watching the implications for the broader fintech ecosystem. The integration of PYUSD and XRP=X into a commercial-grade payments stack could accelerate institutional adoption of stablecoins, particularly in emerging markets. Analysts note that SquareFi’s launch coincides with growing regulatory clarity around stablecoin issuance in the U.S. and EU, creating favorable conditions for scaled deployment. The move signals increased confidence in infrastructure layers that bridge traditional finance and digital assets. As SquareFi prepares to raise $75 million in Series A funding, its success could influence the strategic priorities of major payment providers and prompt further investment in crypto-native rails.