Coinme’s B2B Stablecoin Strategy: Building Compliant Payment Rails for Enterprise

Enterprise payments reached a watershed moment in 2024 when stablecoin transactions processed $27.6 trillion in transfer volumes, surpassing the combined transaction volumes of Visa and Mastercard by 7.7%. Active stablecoin wallets grew from 19.6 million to over 30 million users, representing 53% year-over-year growth as businesses discovered these digital assets could eliminate traditional cross-border payment friction while maintaining price stability.

Despite this momentum, most enterprises face a formidable regulatory barrier when attempting to integrate stablecoin capabilities. Companies seeking to offer B2B stablecoin payment services must navigate money transmitter licensing across multiple states, implement comprehensive anti-money laundering programs, and maintain ongoing regulatory compliance—requirements that can consume years and cost hundreds of thousands of dollars to establish. Neil Bergquist’s Coinme has spent the past decade constructing precisely this regulatory infrastructure, positioning the company to capture the enterprise stablecoin opportunity as federal legislation creates clearer operating frameworks.

Why Stablecoins Solve Enterprise Payment Problems

Business-to-business payments worldwide process over $125 trillion annually, yet remain plagued by inefficiencies that stablecoins can address. Traditional cross-border business payments involve multiple intermediaries, currency conversion fees, and settlement delays that can extend for days or weeks—friction that directly impacts cash flow and operational efficiency.

“USDC is always worth $1,” Bergquist explains. “And so, there’s no volatility with that one.” Unlike volatile cryptocurrencies such as Bitcoin, stablecoins maintain their value by pegging to reserve assets like the U.S. dollar. Companies can harness blockchain technology’s speed and efficiency benefits without exposing themselves to price fluctuations that could impact their profit margins or cash flow.

Traditional wire transfers can cost $25-50 per transaction and take multiple business days to settle internationally. Stablecoin transactions typically cost just pennies and settle within minutes, operating 24/7 without banking hour restrictions. “You probably see the signs that say pay in cash and get a discount,” Bergquist notes. “We will see something very similar around pay in digital currency and get a discount.”

The Regulatory Infrastructure Gap

Companies seeking to integrate stablecoin capabilities encounter formidable regulatory barriers. Operating B2B stablecoin infrastructure requires money transmitter licenses across all 50 states plus U.S. territories—a process that demands substantial capital reserves, compliance expertise, and multi-year approval timelines.

Circle, which issues the USDC stablecoin, exemplifies this regulatory burden. The company required money transmitter licenses in 46 states to operate legally, with each state maintaining distinct requirements. Initial registration fees alone can reach tens of thousands of dollars across jurisdictions, not including ongoing compliance costs and capital requirements.

“I think there are a lot of partners that are more traditional, Fortune 1000 types that are in a wait and see mode from a federal regulation perspective,” Bergquist explains. “I think when you deal with companies that are worth more than a billion dollars and already have a good thing going, they’re less likely to take a potentially unnecessary risk.”

Federal oversight compounds the complexity. Money transmitters must register with the Financial Crimes Enforcement Network and comply with Bank Secrecy Act requirements, including Know Your Customer protocols and suspicious activity reporting. These requirements create significant barriers to market entry for traditional businesses seeking to add stablecoin capabilities to existing products.

Coinme’s Regulatory Foundation Built Over a Decade

Coinme operates as a licensed financial institution across 48 states, building this regulatory infrastructure when it launched the first licensed Bitcoin ATM in the United States in 2014. The company’s early investment in compliance has created competitive advantages as enterprise demand for stablecoin services accelerates.

“Coinme is a licensed and regulated financial institution, just like the other financial institutions you know and trust,” Bergquist explains. “We do KYC. KYC is Know Your Customer. There’s no anonymity. We do anti-money laundering, so we have controls and transaction monitoring in place.”

The company’s regulatory approach contrasts with Silicon Valley’s “move fast and break things” philosophy. “At the time, the entrepreneurial mantra was ‘build fast and break things,'” Bergquist recalls. “Unfortunately, we wanted to operate a money services business in the U.S. If you ‘break things,’ you risk going to jail.”

Coinme already processes stablecoin transactions through partnerships with Circle and the Stellar Development Foundation, enabling customers to exchange cash for USDC at over 40,000 retail locations nationwide. The company has processed over $1 billion in cryptocurrency transactions while maintaining its regulatory standing, demonstrating operational capability to handle enterprise-scale digital asset flows within existing compliance frameworks.

Crypto-as-a-Service Platform Opens New Business Models

Coinme’s enterprise strategy centers on its Crypto-as-a-Service (CaaS) platform, which provides APIs that allow businesses to integrate stablecoin capabilities without obtaining their own money transmitter licenses. This infrastructure-as-a-service approach addresses the fundamental challenge facing B2B stablecoin adoption.

“We’re a platform that provides crypto infrastructure,” Bergquist describes Coinme’s positioning. “That infrastructure is the ability to create an account and conduct KYC, which is Know Your Customer so that Coinme and our partners can comply with various state and federal regulations. They are also able to process debit cards or cash for the purchase or sale of digital currencies and then custody dor send them to the customer’s wallet of choice.”

The CaaS platform supports various enterprise applications beyond basic payments, opening new revenue streams through tokenization capabilities. “I think around tokenization, we’re seeing opportunities really around consumer engagement and retention,” Bergquist explains. “So think of it kind of like a rewards program where a company can tokenize some type of a reward and be able to use that as a reward when people make purchases or do a particular behavior and then redeem those tokens for some kind of value product or service.”

Blockchain-based tokens can potentially be exchanged or transferred between different platforms, unlike traditional loyalty programs. “Whereas your Starbucks points are unique to Starbucks and only able to be used at Starbucks,” Bergquist notes. “What if Starbucks points were on a blockchain and there was a free market around them, that certainly is a very interesting concept.”

MoneyGram Online’s crypto feature exemplifies this customizable crypto on and off-ramp approach. The global money transfer company integrated Coinme’s services to offer cryptocurrency transactions without building regulatory infrastructure from scratch. MoneyGram subsequently invested in a 4% stake in Coinme, validating the strategic value of the partnership model.

Federal Legislation Creates Clearer Market Opportunity

The Trump administration’s pro-cryptocurrency stance has accelerated congressional momentum around stablecoin regulation. Three major bills under consideration—the GENIUS Act, STABLE Act, and Waters Stablecoin Act—would establish federal frameworks for stablecoin issuers, creating clearer operating guidelines for the industry.

These proposed frameworks would require stablecoin issuers to choose from three regulatory regimes: state-based money transmitter licenses, federal banking charters, or new federal licenses designed specifically for payment stablecoin issuers. The state-based money transmitter route represents the most economical option for many companies.

Financial institutions increasingly view new regulations as enablers rather than barriers, with 85% expressing this perspective in 2025 compared to just 25% in 2023. This shift suggests a growing appetite for regulated stablecoin solutions among traditional financial companies.

Enterprise Adoption Accelerates with Infrastructure Maturity

Companies using stablecoin infrastructure report significant efficiency gains that translate directly to operational improvements. Zeebu, a blockchain-based telecom payments platform, has processed $5.7 billion in transactions settling 99,000 B2B invoices across 139 carriers using stablecoin rails. These volumes demonstrate enterprise-scale adoption is already occurring among early adopters.

Research indicates that 86% of financial services companies believe their infrastructure can handle stablecoin flows, with enterprise-grade performance becoming the key differentiator. When selecting infrastructure providers, 41% of companies prioritize fast and reliable payouts while 34% emphasize compliance capabilities.

Regional adoption patterns show Latin America leading enterprise implementation, with 71% of firms already using stablecoins for cross-border payments. “Bitcoin gains aside, we believe in a digitally native form of money,” Bergquist explains. “That could be USDC (a U.S. dollar-pegged stablecoin we support on our platform) that can be sent or received anywhere in the world nearly instantly and for free. It’s like sending an email, but it’s money.”

Where B2B Stablecoin Payments Are Headed

The stablecoin market capitalization has grown to $230 billion, with most growth concentrated in dollar-pegged assets that serve as digital representations of the world’s primary reserve currency. This growth creates opportunities for infrastructure providers that can bridge traditional finance and blockchain technology.

“Because Coinme has these baskets of infrastructure, we’re able to allow the partner or the token project to really pick and choose the user experience that they want to provide,” Bergquist describes the approach. “Some just want to distribute the token as a reward and then allow people to sell it andredeem it for cash. So they might just use custody and sell function APIs from Coinme. They also might want people to be able to buy it or to be able to swap it.”

Enterprise adoption of stablecoins will accelerate as regulatory clarity improves and infrastructure providers mature their offerings. The combination of clearer federal frameworks, proven regulatory compliance models, and demonstrated efficiency gains creates favorable conditions for mainstream B2B stablecoin adoption. Companies with established licensing, proven compliance capabilities, and scalable technical infrastructure are positioned to capture the largest share of this expanding market. Coinme’s decade-long investment in regulatory compliance and partnership-driven growth strategy positions it to benefit from the transition toward mainstream enterprise stablecoin adoption as businesses seek to modernize their payment operations while maintaining regulatory certainty.