
Founder | Investor | Advisor | @wirexapp | @coca_card
Joined August 2015
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Every stablecoin card runs on one of four models. Most founders pick theirs by accident — then the licensing bill arrives.
I broke down all four: how the funds flow, who holds custody, when settlement happens, and which one actually scales.
xitter.cf/matveevp/status/207405…
Pavel Matveev retweeted
2/ Wirex also saw its best month yet in September.
Monthly settlement volume processed by @wirexdevelopers reached $214.89M (+8%), led by @wirexapp, @coca_card, and others.
TOKEN2049 Singapore is coming up, and we’ll be there.
On 7–8 October, Sviatoslav Garal, our Global Head of Payments, and Aleksandr Nurtdinov, our Asia GTM Manager, will be representing Wirex at the event.
With thousands of companies across crypto, payments, infrastructure and Web3 in one place, it is a good opportunity to catch up with partners, meet teams from across the industry and have practical conversations around stablecoin payments and the infrastructure behind them.
If you’re heading to TOKEN2049 as well, send us a DM and we’ll help set up a meeting with the team.
Wirex today is increasingly an infrastructure company.
The retail business gave us years of experience operating cards, accounts, payments, scheme connectivity and compliance ourselves. The shift was to take that operating stack and make it available to other companies building financial products.
We launched the infrastructure business in November 2025. In 131 days, it became the fastest stablecoin payment infrastructure to reach $1B in annualised onchain volume. That run rate has since passed $2B.
Partners can now build with cards, accounts, payouts, settlement and other financial products through one integration, with an average signed-to-live timeline of 44 days.
That is the direction of the business now. We are building the infrastructure other companies use to bring stablecoin-powered financial products to market.
In this conversation with @samconnerone, Community Lead Developer at @circle and @arc, our Group CEO and Co-Founder @matveevp explains how Wirex moved from retail into infrastructure and what that focus looks like today.
Wirex infrastructure is now live on @Arc. 🤝
With Arc mainnet officially live, we’re bringing our banking and payment infrastructure onto the network, giving builders a new settlement layer for stablecoin-powered financial products.
Arc Mainnet is live.
Arc launches as the Economic OS for the internet: an open platform for global markets, real-time value movement, tokenized assets, and agentic economic activity.
Arc is more than a blockchain.
It launches as a full-stack financial platform with assets, applications, interoperability, developer infrastructure, and Circle platform services live from day one.
Arc delivers USDC as native gas, deterministic sub-second finality, EVM compatibility, and institutional validators.
It integrates with Arc Studio, App Kits, Arc Portal, Circle Agent Stack, CCTP, Gateway, CPN, and StableFX.
A complete economic platform at genesis.
Arc launches with infrastructure for:
→ Agentic economic workflows
→ Lending and borrowing
→ Trading and liquidity
→ Onchain FX
→ Payments and settlement
→ Tokenized assets
→ Exchanges, wallets, custody, compliance, data, and developer tooling
190+ institutional and ecosystem builders are building across Arc.
The Solid Card is now live across a much wider global footprint, with Wirex powering the infrastructure behind this expansion. 🤝
@SolidYield is expanding its card product across Europe and key markets in Asia, Latin America, Africa and the Middle East.
That wider rollout gives more Solid users access to the same core experience:
→ Spend directly from a non-custodial wallet
→ Keep earning yield until the moment of payment
→ No separate off-ramp step before spending
→ Use the card anywhere Visa is accepted
More reach for Solid, with the same product experience users already know.
The Solid Card is going global 🌍
We’ve partnered with @wirexapp to bring the Solid Card to more users across Europe, Asia, Latin America, Africa and the Middle East.
Same Solid experience. More countries. More users.
Solid × Wirex. Now live.
A stablecoin card can serve users around the world while its issuer still settles every transaction with the card network in a single currency.
For many programmes, that currency is USD.
The model works, but it was not really designed around a user base spending across EUR, GBP and other currencies. Once the spending currency and settlement currency differ, another layer of cross-border and FX economics enters the transaction.
And the network is only part of the picture. @Paymentscan notes in its research that issuers and card programmes can also add FX fees of their own, which helps explain why some stablecoin cards end up looking much more like traditional bank cards when used abroad.
Multi-currency settlement changes the infrastructure underneath that model, and this is an area where Wirex has moved early. We already settle with @Visa onchain in both USDC and EURC, while GBP and AUD settlement are also in development.
@Paymentscan also identifies Wirex as having the widest local issuance footprint of any stablecoin issuer it tracks.
Pavel Matveev retweeted
If you read just one article about stablecoin cards this year, make it this one. We spoke to five leading stablecoin card issuers to work out exactly where FX fees come from.
I believe non-dollar cards will be the defining theme in this space over the next 12 months.
Arc x Wirex: From Crypto Cards to Stablecoin Infrastructure xitter.cf/i/broadcasts/1yxBePwpo…
Pavel Matveev retweeted
Stablecoin card users pay 2% FX fees because most cards are issued in the US and settle in USD (top-left cell here).
The fix is local issuance, multi-currency settlement, or ideally both.
3 of the 5 issuers we spoke to already do at least one, and the others say it's coming.
Pavel Matveev retweeted
We set out to understand why many stablecoin cards charge FX fees as high as your bank.
Card currencies, explained: what the networks charge across borders, how much settling in USD really costs, and who's fixing it.
Pavel Matveev retweeted
JUST IN: According to onchain data, four stablecoin card issuers set record highs for card volume processed last month:
@raincards - $467.8M (+6.9%)
@wirexdevelopers - $199.2M (+23.5%)
@immersve - $18.35M (+20.2%)
@Stablecoin - $2.218M (+24.0%)
On September 9, Wirex Group CEO and Co-Founder @matveevp will join @samconnerone, Developer Community Lead at @arc, for a conversation on stablecoins, payments and the infrastructure behind them.
They’ll look at Wirex’s move beyond crypto cards into full-stack banking and payment infrastructure, how cards, accounts, payments and settlement come together, and where Arc fits into that stack.
A closer look at what stablecoin-native financial infrastructure can become.
Arc x @wirexapp: From Crypto Cards to Stablecoin Infrastructure
Join Pavel Matveev, Wirex Group CEO and Co-Founder, on September 9 at 10 AM ET for a conversation on how Wirex is expanding from crypto cards into stablecoin payment infrastructure.
We’ll cover:
→ Wirex’s journey beyond crypto cards
→ Why stablecoins became foundational
→ Wirex’s evolution across consumer and business payments
→ Where Wirex and Arc intersect
A practical session on stablecoin payments moving closer to everyday use.
community.arc.io/public/even…
We engaged with Wirex back in January. It was a slow but worth it burn as we scoped out other card vendors. @0drxzy and the rest of the team is phenomenal and the product is only getting better and better everyday.
Send it!
When you tap a stablecoin card at a coffee shop, a lot more happens than “stablecoins get spent.”
The merchant still sees a normal card payment, and to the user, everything looks simple - tap, approval, done.
But behind that moment is an entire payments infrastructure working in the background.
At the point of payment, the transaction travels through the card network to the issuer, where the card, available funds, limits and risk controls are checked before it can be approved.
Behind the balance, stablecoin infrastructure connects the value the customer holds with the card transaction. Depending on the setup, stablecoins can also be used further down the chain for settlement with the card network.
After the tap, the transaction still needs to be cleared, settled and reconciled. And if something happens later, refunds, disputes, chargebacks and fraud investigations all need to be handled too.
And that is just one transaction.
Behind every card programme sit fraud monitoring, compliance, disputes and chargebacks, card lifecycle management, Apple Pay and Google Pay provisioning, reporting, scheme requirements and the operations needed to keep all of it working reliably.
So a card programme is ultimately all of these layers working together as one system, with the card itself only being the most visible part.
We operate that infrastructure today across 75+ clients, with hundreds more exploring integrations, and +$2B in annualised onchain card spend.
And through the same API, partners can also access EUR, USD and GBP accounts, on/off ramps, FX, yield, merchant-funded cashback, Push-to-Card payouts and travel services alongside card issuance.
For teams that want to obsess over the card experience their users see while we obsess over everything underneath it, contact us at [email protected] or visit wirexapp.com/developers
We’re bringing Crypto Outdoor Workout back to where it all began. 💪
For the 18th edition of COW, we’re teaming up with @Tangem for an early-morning workout during @belgradebw.
We’ll meet at Tašmajdan Park on August 26 from 8:00 to 9:00 AM for an hour of training, fresh air and good company before the day gets underway.
Any fitness level is welcome. Join the coaches, follow your own routine or simply move at your own pace.
Water, high-protein snacks and limited-edition merch will be provided for everyone joining us.
Link and details in the comments. 👇
Stablecoin payments are moving from promise to measurable scale.
Wirex BaaS reached $2B+ in annualised onchain card spend in July, doubling from $1B in 110 days as card spend grew 28% MoM.
A closer look at the milestone via @BeInCrypto 👇
beincrypto.com/wirex-baas-do…
another premium blend
@PulsarMoneyApp shipping like crazy right now. Excited for their journey
Pulsar is partnering with @wirexapp to extend its fintech stack, starting with the first Pulsar cards.
One app to hold, move and spend, with a card that works in 110+ countries.
Early access is now open.





























