North American fintechs are leading the way in efficient cross-border payments. Payment Expert profiles five setting the pace on stablecoin settlement, remittances and B2B payments.
The cross-border payments market reached $208trn in 2025, with a revenue pool of $625bn, according to FXC Intelligence. FXC Intelligence forecasts the market’s total addressable value will reach $320.2trn by 2032.
No non-bank provider holds more than 1% of the global cross-border market, FXC Intelligence reported, leaving room for specialist fintechs to take share by corridor and use case. US regulation shifted in 2025 when the GENIUS Act set federal rules for dollar stablecoins, and Stripe’s $1.1bn purchase of Bridge moved stablecoin settlement toward mainstream payment use cases.
Payment Expert has tracked the providers challenging SWIFT for cross-border settlement. Below, it spotlights five North American fintechs building the rails that move money across borders.
Ripple
Founded: 2012
HQ: San Francisco
CEO: Brad Garlinghouse
Ripple runs cross-border settlement for banks and payment firms through Ripple Payments, using the XRP Ledger and its dollar stablecoin RLUSD. Ripple launched RLUSD in December 2024, a stablecoin with a market capitalisation that reached $1.7bn in August 2026.
Ripple spent about $4bn on acquisitions in 2025, buying prime broker Hidden Road for $1.25bn and rebranding it Ripple Prime, acquiring Toronto stablecoin platform Rail for $200m, and adding treasury software firm GTreasury. Ripple cleared more than $3trn through its prime brokerage in 2025. It ran a stablecoin card-settlement pilot with Mastercard, WebBank and Gemini in November 2025.
The Office of the Comptroller of the Currency (OCC) granted Ripple National Trust Bank a conditional charter on 12 December 2025. The charter places RLUSD under federal OCC supervision alongside its existing New York State oversight, with pre-opening conditions running to around mid-2027. Ripple was valued at about $50bn after a $750m share buyback, the company said, and holds more than 75 regulatory licences.
Stripe
Founded: 2010
HQ: San Francisco and Dublin
CEO: Patrick Collison
Stripe processed $1.9trn in total payment volume in 2025, up 34% year-on-year, according to its annual letter. An employee tender offer in February 2026 valued the company at $159bn, up from $106.7bn in September 2025. Stripe serves more than five million businesses, and 57% of the businesses it added in 2025 were based outside the US.
Stripe acquired stablecoin platform Bridge for $1.1bn, its largest deal, closing in February 2025. Bridge handles stablecoin issuance, custody, fiat-to-stablecoin conversion and cross-border payouts to local bank accounts.
Stripe’s stablecoin payments volume doubled to around $400bn in 2025, with about 60% in B2B payments, and Bridge’s volume more than quadrupled, the company said. Bridge received a conditional OCC national trust bank charter in February 2026.
Stripe and Advent International bid more than $53bn to take PayPal private in July 2026; PayPal’s board rejected the offer as inadequate.
Nuvei/Payoneer
Founded: 2003
HQ: Montreal
CEO: Philip Fayer/John Caplan
Nuvei is acquiring Payoneer to expand into cross-border payments. Nuvei agreed to acquire Payoneer on 15 June 2026 for $7.40 per share in cash, valuing its equity at about $2.75bn. US antitrust review cleared on 28 July 2026, when the Hart-Scott-Rodino waiting period was terminated early. The deal is expected to close in mid-2027, subject to Payoneer shareholder and regulatory approval.
Payoneer brings cross-border payouts, multi-currency accounts and a banking network for businesses that trade internationally, with settlement across 150 markets. Nuvei runs the acceptance and payout side, processing card and alternative payment methods for eCommerce, B2B and embedded-payments clients. Fayer said the combination would let businesses accept payments, send funds, issue cards and manage FX on a single platform.
Remitly
Founded: 2011
HQ: Seattle
CEO: Sebastian Gunningham
Remitly reported record Q2 2026 revenue of $495.2m, up 20% year-on-year, with send volume up 27% to $23.5bn and active customers up 20% to 10.2 million, passing 10 million for the first time. Adjusted EBITDA rose 79% to $114.7m. The company raised its 2026 revenue guidance to $1.978bn–$1.988bn.
Remitly reported full-year 2025 revenue of $1.635bn, up 29%, and its first full year of GAAP profitability, with net income of $67.9m. Full-year send volume rose 37% to $74.9bn.
Remitly focuses on consumer remittances, moving money for immigrants sending funds to family abroad, and has partnered with Mastercard on cross-border transfers. Higher-value senders drove growth in 2026, and Remitly joined the OpenUSD stablecoin consortium as a founding member.
Convera
Founded: 2022
HQ: Seattle
CEO: Patrick Gauthier
Convera runs B2B cross-border payments and foreign exchange for about 30,000 business clients across 200 countries and territories, supporting more than 140 currencies. Goldfinch Partners and The Baupost Group carved the business out of Western Union in 2022, buying Western Union Business Solutions for $910m and renaming it Convera. The company employs about 1,800 people.
Convera partnered with Ripple in March 2026 to offer stablecoin-based settlement to business customers. It launched Swift-integrated payment rails for financial institutions in 2026, using Swift GPI and ISO 20022 messaging with near-total straight-through processing. Gauthier previously led Amazon Pay and held senior roles at PayPal and Visa. Convera is privately held.
If you are interested in featuring in Payment Expert’s Spotlight series, get in touch with the team today by emailing News Editor Louis Thompsett at [email protected], or Senior Media Sales Executive Annabel Selvadurai at [email protected].
