Wirex said annualized payment volume on its BaaS-based stablecoin platform has moved past $850 million. The figure stands out because the company recorded the jump while the wider crypto market was facing a slowdown forecast for February 2026, and while other stablecoin payment networks were seeing lower transaction volumes.
Wirex reported that activity on its platform increased tenfold from the previous month. According to the source material, observers described the rise as a sign of genuine payment demand rather than a short burst tied to price swings or temporary market activity.
Practical payment use cases sit behind the volume increase
The company linked the growth to rising demand for stablecoin payment systems built for real-world use instead of pilot programs. Co-founder Pavel Matveev said reaching this scale shows a growing market appetite for stablecoin products that are both reliable and scalable.
Wirex also partnered with decentralized social platform Collective Memory to launch the Collective Memory Card. The card is designed to give content creators instant access to their on-chain earnings, extending stablecoin usage from digital balances into direct spending and payout flows.
Non-custodial payment rails combine blockchain settlement with legacy networks
Its BaaS platform offers a non-custodial payment layer that combines blockchain-based settlement with traditional financial networks. Services listed in the report include stablecoin card issuance connected to global payment networks, fiat-to-stablecoin conversion, cross-border transfers, instant card payouts, and integrated finance products.
That mix points to broader infrastructure ambitions. The platform is not limited to consumer-facing payments; it also addresses movement of funds, settlement, and embedded financial services across multiple payment scenarios.
Industry groups push for standards across stablecoin transfers
The article also noted broader coordination across the sector. Several major blockchain organizations recently formed the Blockchain Payments Consortium, with plans to create standardized protocols for moving stablecoins across different networks and to clarify the regulatory framework around those transactions.
Wirex said transparent, trackable on-chain transaction data shows the sector is shifting out of its experimental stage and into an infrastructure phase. In that view, globally scaled payment and settlement operations are becoming a central measure of stablecoin adoption, as platforms move away from proof-of-concept deployments and toward live transactional systems.