After a series of coin issuances and tariff operations by Trump before taking office, the crypto market has been in a volatile downward trend, but against this backdrop, the stablecoin and cross-border payment tracks have been seeing the emergence of new projects and noteworthy discussions. In this article, BlockBeats has sorted out the crypto-related startups in the latest Y Combinator W25 program, four of which are related to payments or stablecoins, for readers' reference only.

Related reading: Why has the crypto market evaporated $900 billion, while the stablecoin market cap has hit a new high?

BlindPay

BlindPay is a stablecoin payment interface that helps businesses enable global fund transfers through fiat, stablecoins and multiple blockchain networks. BlindPay handles all the complex compliance and regulatory requirements, allowing businesses to focus on their core business.

BlindPay provides fiat payment gateway integration, allowing developers to integrate it into their applications with minimal code. Its SDK supports multiple programming languages and frameworks, and is supported by a developer-friendly REST API with public OpenAPI documentation. BlindPay is compatible with multiple blockchains and major stablecoins, and can directly integrate with local payment systems such as SPEI in Mexico, Pix in Brazil, PSE in Colombia and Transfers in Argentina. The platform provides separate sandbox and production environments, with unique API keys and Webhooks, and supports real-time payment tracking and transaction monitoring.

The founding team includes Bernardo Simonassi, who developed the first stablecoin-based payroll platform and was responsible for instant payment solutions at PicPay; Joao Borges, who founded a large Brazilian blockchain startup and is a contributor to the Nouns DAO ecosystem, and was named to the Forbes 30 Under 30 list; Gabriel Lyra, who was responsible for financial infrastructure at LendingClub and infrastructure optimization at AWS; and Gustavo Marinho, who focused on Latin American financial products, was responsible for the lending market and instant payments at PicPay, and founded Dropull.

Infinite

Infinite is a stablecoin payment processing platform that provides turnkey APIs and SDKs for businesses to enable global instant fund transfers at a fraction of the cost of traditional solutions.

Infinite collaborates with startups and mid-sized companies related to global payments, contractor payments and financial management, covering multiple sectors, including creator economy payments to help platforms reduce payment costs and improve payment success rates; global payroll to expand coverage and optimize tax compliance; cross-border logistics payments to accelerate settlement and reduce costs; e-commerce platform payments to provide low-cost payment solutions for global sellers and service providers; new banks and SME banks in emerging markets to support stablecoin asset management and global remittances; and the esports and gaming industry to provide instant local withdrawal options.

The founding team includes Nikhil Srinivasan, co-founder and CEO of Infinite, who was previously a product manager at Sardine and Coinbase, and Raj Lad, co-founder and CTO of Infinite, who was previously the head of payment technology at Sardine, leading global stablecoin payments and credit risk flow products.

Karsa

Karsa is a stablecoin digital bank serving emerging markets, where users can deposit funds through local payment methods, purchase US dollar stablecoins, deposit funds into US bank accounts for savings, and spend through a Visa card anywhere in the world.

From the user's perspective, the experience is similar to a bank - but at the operational level, Karsa provides liquidity by integrating with a network of verified peer-to-peer stablecoin traders, with user deposits actually paid to these traders.

The founders are Shahryar Hasnani, who previously served as BD for an Ethereum infrastructure startup, and Dale Wilson, who was previously responsible for the development of a Layer 1 AI blockchain protocol.

PAX Markets

PAX is the world's first crypto trading platform in the capital markets space to adopt a single-chip architecture instead of traditional data centers. By reducing the distance between trading servers to the nanometer level, PAX achieves unprecedented trading speeds. This technical advantage creates tremendous value for high-frequency trading clients, while the zero-fee plus cashback mechanism benefits all participants.

The fastest trading platform currently has a round-trip latency of 30 microseconds, which PAX has compressed to 30 nanoseconds (1000 times faster). The λ API allows participants to submit orders in response to market events, including canceling orders due to price level drops after large trades, and placing market orders based on local or remote market data events from different assets.

PAX's co-founders Pete Stevenson and Benjamin Kilimnik have years of high-frequency trading experience spanning crypto and traditional markets.

Axiom

Axiom is a decentralized finance trading platform that currently offers meme coins, perpetual contracts and yield products. According to official data, the platform has already achieved a monthly recurring revenue of $10 million and a monthly net profit of $5 million since its launch.

The founding team has two members: Henry, who previously worked on generative AI ad development at TikTok, completed his studies and founded two startups within two years, one of which successfully exited; and Preston, who interned at Doordash, is studying EECS at UC Berkeley, and founded a company that successfully exited during his undergraduate studies.

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