Key takeaways
- Conduit is a cross-border payments network built on stablecoins, sold as an API and a no-code treasury dashboard, with named USD accounts and no US entity required.
- It suits fintechs and treasury teams paying into markets such as Brazil and Mexico. Its site doesn't list AED accounts, MiCA authorization or published prices.
- BVNK suits payment companies above $500,000 a month, Bridge suits developers on Stripe, Mural suits Latin American payouts, and Align suits a company moving its own money.
- Products in this market get built on each other: Slash says Bridge Building Inc. provides its stablecoin custody and transfers. Ask what sits underneath before you move, because switching may not change that layer.
The short answer
Conduit is a good fit if you're a fintech, payment provider or treasury team that needs USD accounts and local payouts in fast-growing markets, through an API or a dashboard. You'd look for an alternative if you want AED accounts, need a provider authorized under MiCA, process enough to want BVNK's Mastercard reach, or simply want a business account rather than a payments network.
This guide is about Conduit the stablecoin payments company at conduitpay.com. Everything below comes from each company's own site and docs, as of November 2026.
What Conduit offers
Conduit calls itself a global money network powered by stablecoins. It sells to developers and platforms, fintechs and payment service providers, banks looking for an alternative to correspondent banking, and treasury and finance teams.
- Two ways in. A Global USD API for fintechs embedding accounts and rails, and a no-code treasury dashboard for manual operations and international payments.
- Accounts. A USD account "in your company's name or your customer's name," with "no U.S. entity required," and virtual IBANs for EUR and GBP through licensed banking partners.
- Rails. Fedwire, FedNow, RTP, SWIFT, SEPA Instant, Pix, TED and SPEI. Its site also mentions local rails for currencies including BRL, MXN and HKD.
- Stablecoins. USDC, USDT and USDH, with stablecoin wallets across several chains, including Ethereum, Tron and Polygon.
- Reach. It says it onboards customers from 100+ countries and pays out to 100+ markets, with 8 banking partners for US routing. Its map marks some countries as needing enhanced due diligence, without naming them.
Licensing. Conduit's footer says 12835304 Canada Inc. (d/b/a Conduit) is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider, and that Conduit Technology, Inc. is registered with FinCEN as a money services business. It also says Conduit "is a financial technology company, not a bank."
Scale. Conduit raised a $36 million Series A in May 2025, co-led by Dragonfly and Altos Ventures, for $53 million in total funding. It said then that it had passed $10 billion in annualized volume. We found no newer figure from the company.
What it requires. Its docs say KYB documents, such as business registration and an operating license, depend on the countries you operate in. Its terms bar residents of Cuba, North Korea, Sudan, Syria and other US-embargoed countries. It doesn't publish rates: it describes "competitive, tiered pricing based on volume."
Alternatives compared
As of November 2026:
| Best for | Accounts and rails | What to know | |
|---|---|---|---|
| Conduit | Fintechs, PSPs, banks and treasury teams | Named USD accounts; EUR and GBP virtual IBANs; Fedwire, SWIFT, SEPA Instant, Pix, SPEI | No published pricing; FINTRAC, Bank of Canada and FinCEN registrations |
| BVNK (Mastercard) | Payment companies and enterprises at scale | Named USD, EUR and GBP accounts; SEPA; SWIFT for USD and EUR | Needs $500,000+ a month and 6 months of trading history |
| Bridge (Stripe) | Developers and Stripe users | USD, EUR, GBP, MXN, BRL and COP virtual accounts | Its FAQ guidance says virtual accounts don't support SWIFT; EU customers can't use SPEI, Pix, Faster Payments or Colombian rails |
| Zerohash | Banks, brokers and fintechs serving their own customers | Pay-ins, payouts, on and off ramps | Embedded only; MiCAR authorization in the Netherlands |
| Mural | Platforms paying workers, creators or sellers | Stablecoin and local fiat payouts in USD, EUR, MXN, BRL, ARS, COP, CLP, PEN and 20+ others | API-led; FinCEN MSB and state money transmitter licenses |
| Align | Companies moving their own money | Named USD, EUR, GBP and AED accounts; SWIFT, SEPA, SEPA Instant, Faster Payments, IPP, UAEFTS; ACH and Fedwire on request | Pricing by quote |
BVNK is the closest like-for-like option if you're large enough. Its FAQ says it works with businesses and financial institutions processing at least $500,000 a month, and it has been part of Mastercard since August 2026. Read BVNK alternatives for the detail.
Bridge has been owned by Stripe since February 2025 and is the natural choice if you already build on Stripe. Its docs set separate rules for each rail, so read them against your flows. Bridge alternatives covers the limits by country.
Zerohash suits a regulated platform in the EEA or US that embeds services for its own customers. It isn't an account for your own treasury.
Mural overlaps with Conduit on Latin America. It lists a long run of regional currencies, and names Deel and Opera as payout customers.
For the whole market on one page, see stablecoin payment providers compared. If you only want a ready-made account, see stablecoin business accounts compared.
When Conduit is the better fit
Stay with Conduit, or choose it, if:
- You need Pix, TED or SPEI. Align doesn't offer those rails.
- You want one provider with both an API and a dashboard your treasury team can use by hand.
- You issue accounts to your own customers. Conduit says it handles KYB, AML and transaction monitoring by default, and its onboarding is built for that.
- You want multi-bank US routing. Conduit says it uses 8 banking partners.
Which one to choose
| What you need | Look at |
|---|---|
| Accounts and payouts embedded in your own product, with Latin American rails | Conduit, Mural or Bridge |
| Mastercard's reach, at $500,000 or more a month | BVNK |
| To build on Stripe, or to issue a stablecoin | Bridge |
| EEA coverage under MiCA for your own end customers | Zerohash or Bridge |
| Named accounts in your company's name in USD, EUR, GBP and AED, with no integration | Align |
| The same accounts through an API | AlignConnect |
How to test an alternative before you move
Don't switch on a sales deck. Run this on real money first:
- List your flows. Write down your top ten corridors by value, with the rail and the monthly amount for each.
- Ask for each one in writing. Confirm the rail is live for your country of incorporation, and get the fee and spread on a real amount.
- Check whose name shows. Send a test payment in and read what your customer's bank displays. A mismatch can stop payments at the sending bank.
- Send a payment out and time it. Include one payment over a weekend and one that needs a compliance check.
- Pull a statement. Confirm your accountant can reconcile it without help.
- Run both providers in parallel. Keep the old account open until customers have paid into the new details for a full cycle.
How Align compares
Align isn't a network you build on, unless you use AlignConnect. It's a business account built on stablecoins for a company's own money.
- Named accounts. USD, EUR, GBP and AED details in your company's name, with a balance in each currency.
- USD. SWIFT, plus ACH and wires through a US banking partner. You request that access, and the partner runs a second review after Align's KYB. It can decline or set limits.
- Stablecoins. USDC, USDT and EURC next to your balances. Conversions show the rate and fee before you confirm, and Align pays the network fee on USDC and USDT sent from a balance.
- Onboarding. Align's KYB review usually takes 1 to 3 business days.
Align Payments Ltd. is registered with FINTRAC in Canada as a money services business (registration no. N300000203), and regulated services are provided through licensed financial institutions. Align isn't a bank. It serves registered companies only and isn't authorized under MiCA. Check the eligibility page for your country and industry. Pricing is quoted on request: contact us.
Sources
- Conduit, Homepage and legal notices, Virtual accounts, Payouts, Terms of service and Docs (November 2026)
- Conduit, Conduit raises $36M in Series A (May 2025)
- BVNK, Homepage and FAQ, Virtual accounts overview and BVNK joins Mastercard (November 2026)
- Stripe, Stripe completes Bridge acquisition (February 2025)
- Bridge docs, Virtual accounts, Rail-specific rules and FAQ guidance (November 2026)
- Zerohash, Homepage and licenses (November 2026) and MiCAR authorization (November 2025)
- Mural, Homepage (November 2026)
- Slash, Homepage (November 2026)
Common questions
- What does Conduit do?
- Conduit connects local payment rails with stablecoins so businesses can send and receive money across borders. As of November 2026, it offers a Global USD API for fintechs, a no-code treasury dashboard, named USD accounts, virtual IBANs for EUR and GBP, stablecoin wallets, payouts and collections.
- Is Conduit a bank?
- No. Its website says it's a financial technology company, not a bank, and that banking services come from third-party banking partners. Its Canadian entity is registered with FINTRAC and the Bank of Canada, and its US entity with FinCEN.
- Does Conduit have a minimum volume?
- Its homepage and terms don't state one as of November 2026. It describes pricing as tiered by volume and doesn't publish rates, so ask for both when you request a demo.
- Which Conduit alternative offers AED accounts?
- Align offers named AED accounts on IPP and UAEFTS, and companies based in the UAE can apply.
This guide is general information, not legal, tax or financial advice. Rules and providers' terms change; check the sources linked above and take advice on your own situation.
