Madhouse Wallet

Madhouse Wallet is a B2B infrastructure layer for stablecoin settlements. It gives wallet providers, exchanges, and fintech companies a single API to convert USDC into local fiat currency across 85 currencies, routing payouts through the payment rails their recipients already use — bank transfers, M-PESA, UPI, SEPA, ACH, and more. The product is not a consumer wallet despite the name; it is a white-label off-ramp engine that integrators embed into their own products.

The company, registered in Kenya as The Walker Ledger Ltd, was founded in 2024 and operates as a FinCEN-registered Money Services Business (MSB #31000303426052). Its focus on emerging markets in Africa, Southeast Asia, and South America sets it apart from most off-ramp providers that concentrate on US and European corridors.

How It Works

The core flow is straightforward. An integrator calls the Madhouse Wallet API with a recipient record and a requested fiat amount. The API returns a locked FX quote — valid for five minutes and priced at the mid-market rate — and a unique deposit address. The integrator's user sends the specified USDC amount to that address within the expiry window. Madhouse Wallet detects the on-chain deposit, applies the locked rate, and routes the fiat to the recipient's bank account or mobile money wallet automatically.

Stablecoin confirmation and conversion takes five to ten minutes. Fiat settlement ranges from instant on local rails (M-PESA, UPI, PayNow, most African bank schemes) to one or two business days on ACH, to five to seven days on SWIFT. The platform uses per-transfer unique deposit addresses, which prevents commingling and simplifies reconciliation for high-volume integrators. Transfer status progresses through clearly defined states — pending, awaiting deposit, processing, and completed — which integrators can poll via a status endpoint.

Supported Networks and Assets

Madhouse Wallet accepts USDC inbound on six networks: Solana, Arbitrum, Base, Ethereum mainnet, Optimism, and Polygon. The exclusive focus on USDC as the settlement stablecoin is a deliberate design choice — it avoids FX slippage from multi-stablecoin routing and keeps the compliance surface narrow.

The USDC on Solana integration gives Solana-native wallets and applications a direct path to fiat settlement without forcing users through Ethereum-based bridges. For a Solana wallet serving users in Nigeria, Kenya, India, or Indonesia, this is meaningful infrastructure: the wallet can expose a cash-out feature backed by Madhouse Wallet's licensed local payment rails without building those rails itself.

Geographic Coverage and Payment Rails

The platform covers 85 fiat currencies across six regions. Africa is a priority market: supported currencies include KES via M-PESA and bank, NGN, GHS, ZAR, TZS, and UGX. In Asia, INR settlement routes through UPI or bank, with additional coverage across SGD via PayNow, THB, IDR, CNY via Alipay and WeChat, and others. European payouts use IBAN or SWIFT for EUR, GBP, and CHF. The Americas are served via USD ACH and wire, BRL, MXN via CLABE, and CAD via Interac.

This breadth is uncommon for a developer-focused API product. Most off-ramp APIs optimize for US and EU corridors and treat emerging markets as secondary. Madhouse Wallet's approach — building first for M-PESA, UPI, and local African bank rails — inverts that priority and reflects the company's Kenya registration and regional expertise.

Pricing and Transaction Limits

The fee structure consists of a 0.3% transaction fee and a 0.5% platform fee. The mid-market FX rate is passed through with no markup, so the total cost for transfers above 500 USDC is typically under 1%. There is no minimum volume commitment, which makes the service accessible to early-stage products testing off-ramp demand, while enterprise volume pricing is available by negotiation.

Default transaction limits are set at 9,000 USD per transfer. Verified and enterprise accounts access limits up to 1,000,000 USD per transaction, with maximum liquidity per currency also capped at 1,000,000 USD equivalent. FX quotes lock for five minutes from issuance and the platform reports a 98% off-ramp completion rate.

Security and Infrastructure

Infrastructure runs on AWS us-east-1. Data at rest is encrypted with AES-256; data in transit uses TLS 1.2 or higher. Signing keys are generated and stored inside AWS KMS using secp256k1 and never leave the KMS boundary. API keys carry 128-bit entropy, are displayed in plaintext only once at creation, and are stored thereafter as SHA-256 hashes. Per-key restriction to a single IPv4 CIDR is supported for integrators with fixed egress IPs.

On the compliance side, Madhouse Wallet performs KYB onboarding on integrating businesses (typically three to five business days) while integrators retain responsibility for end-user KYC. Ongoing AML and sanctions screening runs on the platform side, with Comply Factor as the named compliance partner. A SOC 2 audit is listed as in preparation; the platform is GDPR and CCPA compliant for data handling. Common processing delays — for compliance review — carry a stated maximum of 72 hours and are non-terminal, meaning transfers retry automatically rather than failing outright.

Integration Models

Two integration modes are offered. The fully programmatic API requires no frontend: integrators build recipient management, FX quoting, and transfer initiation into their own product UI. A hosted Widget UI is available for teams that want to embed off-ramp functionality without custom interface work.

The API rate limits are tiered by endpoint type — FX quotes allow 20 requests per minute, transfer initiation five per minute, with separate limits for status polling and recipient management. A sandbox environment is provided for testing, and the API is versioned with a public changelog. Developer support is delivered through a dedicated Slack channel provisioned at onboarding. Webhooks for status notifications are planned but not yet available as of mid-2026; integrators currently poll the transfer status endpoint.

Position in the Solana Ecosystem

Madhouse Wallet addresses a gap that is structurally underserved in Solana's application layer: reliable fiat exit rails for users in emerging markets. Most Solana DeFi and payments infrastructure is built outward from US and European financial plumbing. Madhouse Wallet's approach — starting with M-PESA, UPI, and local African bank rails, then extending to global coverage — makes it particularly relevant for Solana wallets targeting Sub-Saharan Africa, South Asia, and Southeast Asia.

As a B2B API product, Madhouse Wallet is not a consumer-facing application. Its direct customers are developers and product teams. Its end users are the people those products serve who need to convert stablecoin balances into currency they can spend locally.