CopperX

CopperX is a stablecoin-native financial platform that lets businesses anywhere in the world accept payments, send global payouts, hold USDC balances in virtual bank accounts, and issue Visa corporate cards — all without requiring a US or European business entity. The company is operated by Piers Technology Inc, was founded in 2022, and is based in the UAE and India.

The Problem

Cross-border business finance has long been gated by geography. Freelancers, startups, and web3 companies outside the US routinely find themselves rejected by traditional fintech providers — not because of their business health, but because of where they are incorporated. International wire transfers carry steep fees and settlement delays that stretch days. CopperX uses stablecoins as the settlement layer to cut through these barriers, offering a single dashboard to manage business inflows, outflows, and spending across 90+ countries.

Core Mechanism

CopperX's infrastructure centers on USDC and USDT as the universal holding currency. Deposits are accepted from multiple blockchain networks including Solana, Ethereum, Polygon, and BNB Smart Chain. Once funds land in a CopperX account as USDC, businesses can pay out to contractors globally, receive fiat through virtual account rails that auto-convert to USDC, or spend directly with a Visa corporate card funded from the same balance.

A January 2025 integration with Circle Programmable Wallets underpins the multi-chain wallet architecture, using Circle's Cross-Chain Transfer Protocol (CCTP) for faster USDC settlement across chains and distributing key management through multi-party computation (MPC). This removes the need for businesses to handle raw private key management at the infrastructure level.

Key Products

Stablecoin Payment Gateway

The gateway lets businesses accept both crypto and fiat at checkout. It supports hosted checkout pages, shareable payment links, B2B invoice creation, and on-chain recurring billing subscriptions without smart contract development. Crypto networks include Solana, Ethereum, Polygon, and BNB Smart Chain; card rails include Visa, Mastercard, American Express, and Discover. Integrations cover WooCommerce, Shopify, Zapier, Xero, QuickBooks, and Stripe.

Virtual Financial Accounts

CopperX issues virtual bank accounts in six currencies: USD (ACH and wire), EUR (SEPA), GBP (UK Faster Payments), MXN (SPEI), BRL (Pix), and COP (Bre-B, currently in beta). Every inbound fiat deposit auto-converts to USDC. Account holders receive the local deposit credential — a routing number, IBAN, CLABE, Pix key, or Bre-B llave — and share it directly with customers, bypassing the need for a local entity in each country.

Global Payouts

Businesses can send USDC or USDT to contractors, vendors, and employees in 90+ countries. Offramp options include ACH, wire, SEPA, SWIFT, and local rails in markets including India, the UAE, Singapore, and Europe. CopperX supports sending to email addresses, where the platform automatically links funds to the recipient's wallet or bank account. The dashboard supports bulk, scheduled, and batch payout workflows. For India, FIRC certificates are available for offramp compliance.

Corporate Cards

CopperX issues USDC-funded Visa cards globally. Admins can create unlimited virtual cards, set per-card spend limits and merchant restrictions, and track all usage in real time. An AI-powered layer handles automatic spend categorization, receipt matching, and accounting sync. Cards work with Apple Pay and Google Pay.

Solana Integration

Solana is one of CopperX's core deposit and payment networks. At Solana Breakpoint 2025, CopperX founder Tarun Mangukiya presented Coach — a Solana-powered consumer banking product targeting freelancers in emerging markets with US bank accounts and stablecoin cards. The keynote positioned Solana's transaction speed and low fees as the practical settlement layer for cross-border financial use cases in markets underserved by legacy banking.

Security and Compliance

CopperX operates as a fintech platform rather than a bank or money services business. Financial services in each jurisdiction are provided through licensed partner institutions. Business users complete KYB onboarding; individuals complete KYC. Stablecoin balances are secured using institutional custody, multi-signature wallets, real-time fraud monitoring, and Circle's MPC key infrastructure. The platform states compliance with AML standards.

Team and Background

CopperX was founded in 2022 by Tarun Mangukiya, who has described building the product from personal experience as a freelancer facing cross-border payment barriers. Piers Technology Inc, the parent entity, operates from the UAE and India. Customers named on the platform include DeForm, Airchains, Coral Protocol, Coincards, Web3Conf India, FanTv, and Router Protocol.