Wirex and Ultra Stellar have collaborated to develop a native payment infrastructure on Soroban, which is part of the Stellar blockchain platform.
Their objective is to introduce real-world financial functionalities such as card issuance, cross-border payments, and stablecoin yield directly onto the chain, bypassing external systems.
By uniting Wirex’s extensive global payment network, covering over 130 countries, with Ultra Stellar’s blockchain expertise, which includes LOBSTR and StellarX platforms, they aim to serve millions of users within the Stellar ecosystem.
A comprehensive on-chain financial solution
The new infrastructure provides a range of ready-to-use financial services directly on Soroban. These include virtual bank accounts powered by stablecoins for storing and receiving funds, instant fiat to stablecoin conversions with no spread, and co-branded cards that can be used at over 80 million merchants worldwide.
The system also supports cross-border payments and settlements via major channels like ACH, SEPA, PIX, FPS, SWIFT, and Push-to-Card, allowing on-chain assets to traverse traditional financial networks. Additionally, users can earn up to 6% APY on their stablecoin balances through the on-chain yield infrastructure without any lock-up periods.
Built directly on Soroban, this infrastructure ensures full interoperability with Stellar wallets and decentralized applications (dApps). It enables developers to integrate these financial services into their products seamlessly, eliminating the need for complex third-party solutions.
Interconnecting blockchain assets with traditional finance
A crucial aspect of this partnership is its capability to bridge on-chain and off-chain financial systems. Wirex’s existing connections with Visa, Mastercard, and global banking networks facilitate the secure transfer of value using stablecoins for everyday spending, international transfers, settlements, and broader financial management.
The infrastructure also supports autonomous AI agents for programmatic, cross-border transactions with stablecoins. This positioning opens up possibilities beyond conventional payments, extending into developer-built and AI-driven financial applications.
A Wirex representative noted that the aim is to establish Stellar as a fully functional ecosystem for stablecoin-powered payments where cards, bank accounts, payouts, and yield are interconnected through a single on-chain layer.
