The Impact of Bridge.xyz’s Acquisition
The recent acquisition of stablecoin platform Bridge.xyz by payment giant Stripe for a staggering $1.1 billion has created ripples in the crypto payments arena. This development has sparked interest in the next wave of stablecoin payment infrastructure providers ready to make their mark.
One such contender is BlindPay, a company that emerged victorious at the 2024 Consensus hackathon and is proudly part of Y Combinator’s 2025 batch. BlindPay is taking a unique stance on the global payments challenge, aiming to redefine how transactions are conducted across borders.
Focusing on Emerging Markets
While Bridge.xyz has successfully captured the U.S. and European markets with its enterprise-focused approach, BlindPay has set its sights on the emerging markets of Latin America. This strategic choice comes at a time when a16z crypto forecasts a growing acceptance of stablecoins in enterprise payments, branding them as “the cheapest way to send a dollar.”
Bernardo Simonassi Moura, the 26-year-old CEO of BlindPay, emphasizes the company’s dedication to these emerging markets. “What sets us apart from Bridge is our emphasis on these regions. We are already operational in Argentina, Mexico, Colombia, and Brazil, with the necessary compliance and regulatory frameworks to onboard customers effectively.”
A New Model for Payment Solutions
In contrast to Bridge’s enterprise-centric model that relies on monthly commitment fees, BlindPay adopts what Moura refers to as a “Shopify approach.” This model aims to democratize global payment access for small and medium-sized businesses (SMBs) through a transaction-fee structure. This aligns with a16z’s insights that SMBs are likely to be early adopters of stablecoin payments to sidestep the hefty fees imposed by conventional financial institutions.
Since its inception in July, BlindPay’s innovative approach has rapidly gained traction, securing 19 customers across diverse sectors, including gaming and decentralized autonomous organizations (DAOs). Notable partnerships include LootRush in gaming and Hifibridge and WalaPay in payments. Monthly payment volumes have surged from $30,000 at launch to over $300,000, with aspirations to reach $2.5 million as more customers come on board.
Deep Integration with Latin American Markets
BlindPay’s competitive edge lies in its profound integration with Latin American markets, particularly in Brazil, which ranks among the top ten countries globally for crypto adoption, according to Chainalysis. Moura is also prioritizing the developer experience, drawing from his extensive seven-year background as a software engineer and product designer. “I aim to provide a seamless and intuitive developer experience similar to what platforms like Resend, Stripe, Ankey, SVX, and Clerk offer in the Web3 realm,” he explains.
The Vast Market Potential
BlindPay is capitalizing on a substantial market opportunity. The cross-border payment industry, currently dominated by SWIFT, processes an impressive $33 trillion annually. Stablecoins, having facilitated $8.5 trillion in transactions in 2024 alone, present a compelling alternative. “For instance, if I want to send money from Brazil to Argentina using stablecoins, it takes just 30 seconds, while SWIFT takes five business days,” Moura highlights.
Looking Towards the Future
BlindPay’s ambitions extend well beyond stablecoin integrations. The company envisions a long-term strategy that harnesses its team’s fintech expertise to introduce banking-as-a-service functionalities powered by stablecoins. Plans are underway to connect with card networks, enable stablecoin spending through card issuance, and facilitate the purchase of tokenized stocks from regulated regions.
With a founding team that boasts experience at notable fintech companies, including Silicon Valley’s Lending Club and various Brazilian fintech unicorns, BlindPay is strategically positioned to bridge the gap between traditional finance and innovative crypto solutions. As the stablecoin payment landscape continues to evolve, the company’s focus on emerging markets, a developer-friendly infrastructure, and the development of a comprehensive stablecoin-powered banking ecosystem could prove pivotal in the quest to revolutionize global payments.
