Walapay

Walapay is a global money movement infrastructure platform built for payment service providers, fintechs, payroll processors, and cross-border marketplaces. Through a single API, businesses can issue multi-currency bank accounts, accept local payment rails, and settle funds using stablecoins — including USDC and USDT on Solana — across more than 180 countries and 60 currencies.

The Problem Walapay Addresses

Traditional cross-border payment infrastructure is slow and capital-intensive. Settlement through correspondent banking can take up to seven days and cost close to 4% per transaction. Estimates suggest roughly $4 trillion sits locked in pre-funded nostro accounts globally at any given moment — capital that earns nothing and clogs the pipes. For payment service providers building cross-border products, assembling this infrastructure from scratch means negotiating banking relationships across dozens of jurisdictions, managing compliance in each, and writing integrations against incompatible rail specifications.

Walapay replaces that complexity with a single API endpoint. The platform connects banking infrastructure to stablecoin settlement networks, handling routing, compliance, and custody so that builders do not have to.

Core Mechanism

Walapay's architecture is rail-agnostic by design. When a payment is submitted via the API, the platform selects the optimal route — local ACH or SEPA rails, SWIFT, or a stablecoin network — based on destination currency, speed requirements, and client configuration. Stablecoin settlement runs on DFNS wallet infrastructure, which supports both custodial and self-custodial wallet models and routes transactions through smart contracts. This eliminates the need for pre-funded nostro or vostro balances: rather than parking idle capital in dozens of jurisdictions, clients fund transfers programmatically at transaction time.

The platform supports four transaction types through the same unified endpoint: fiat-to-fiat, fiat-to-stablecoin, stablecoin-to-fiat, and stablecoin-to-stablecoin. Each type draws on the same API schema, reducing integration overhead for platform developers.

Products

Virtual Accounts. Walapay issues dedicated, named bank accounts held at tier-1 banking partners. Accounts carry IBANs and local routing codes and support ten fiat currencies plus USDC and USDT stablecoins. Clients can configure automatic liquidation on incoming funds — for example, receiving Mexican pesos and instantly converting them to USDC — allowing platforms to accept local-currency payments and hold stablecoin balances without managing foreign exchange manually.

Payments API. The payments product handles cross-border transfers across 60+ currencies and 178+ countries, covering all four transaction types. When selecting stablecoin settlement, clients can route through Ethereum, Solana, Polygon, Base, or Tron. The API returns funding instructions with destination wallet addresses and chain identifiers, and supports automated reconciliation through webhooks and a monitoring dashboard.

Compliance. KYC, KYB, AML screening, and transaction monitoring are embedded directly in the API, allowing platforms to meet regulatory obligations without building separate compliance pipelines. Walapay Inc. holds FINTRAC Money Services Business registration (C100000625) in Canada, where it is incorporated.

Treasury. A yield-bearing component lets platforms programmatically route stablecoin balances into savings products via partners including Paxos, Bridge, and Agora, generating returns on liquidity that would otherwise sit idle between transactions.

Supported Tokens and Networks

Walapay's stablecoin layer supports USDC, USDT, and EURC. It is a member of the Circle Alliance and integrates both USDC and EURC natively through Circle. Solana is one of five supported blockchain networks for on-chain stablecoin transfers — alongside Ethereum, Polygon, Base, and Tron. Clients configure per-chain return policies specifying wallet addresses for each stablecoin, making Solana a selectable settlement destination for any payment originated through the platform.

Team and Background

Walapay was co-founded by brothers Tom Borgers and Dimitri Borgers. Tom, the CEO, spent 2017 to 2021 at ConsenSys, where he worked across early Ethereum infrastructure — including projects such as MetaMask and Infura — before identifying the opportunity to bring stablecoin-powered settlement into institutional cross-border payment flows. Dimitri brings banking and payment technology experience from Oliver Wyman and Capital One.

The company is incorporated in Canada and backed by FGV Capital (formerly Fiat VC). FGV's managing partner Marcos Fernandez previously served as Head of Partnerships at Ripple, giving the investor bench direct experience in payments infrastructure.

Traction

Walapay launched commercially in October 2024 and reported over $85 million in monthly transaction volume and more than 40 business customers shortly after launch. Clients include Vizum (B2B payments), Nuvei (a payment service provider), and Zarpay (a neobank and stablecoin off-ramp operator). The platform has also been used by Decaf, a Latin American fintech, to help users convert USDC into local currencies — a process that previously required close to a week and 4% in fees and now settles in minutes. Average institutional payout size has been reported at $500,000.

Walapay cites reductions in payment costs of up to 4x and settlement times of up to 10x compared to traditional correspondent banking, while eliminating the need for pre-funded accounts.

Security and Audits

No formal smart contract security audits are publicly documented for Walapay's on-chain components. The platform's security posture is anchored in regulatory registration, automated compliance screening, and the DFNS custody layer, which maintains its own security certifications. DFNS supports both fully custodial and self-custodial configurations and enables real-time policy enforcement on automated transactions.

Solana Integration

Walapay's connection to Solana is through its stablecoin settlement layer. Solana is one of five supported networks for USDC and USDT on-chain transfers, included for its low transaction costs and high throughput relative to Ethereum mainnet — practical considerations for a platform processing frequent, high-volume cross-border payments. Platforms building on Walapay can designate Solana wallet addresses as return destinations for any stablecoin payment, making Solana a real settlement rail within the platform's routing options. Walapay is not Solana-native — it is multi-chain infrastructure — but Solana's position as a low-cost, high-speed settlement layer makes it a natural fit for the platform's core use case.