Modern Treasury Bets on Stablecoins With New Payment Service That Processes Both Crypto and Cash

Modern Treasury Bets on Stablecoins With New Payment Service That Processes Both Crypto and Cash

Modern Treasury launched a payment service provider this week that lets companies move money through traditional banking rails and stablecoins via a single API, marking one of the first integrated platforms to treat digital dollars and actual dollars as interchangeable payment methods.

The new offering, called Payments, enables firms to programmatically open payment accounts and route transactions through ACH, wire transfers, RTP/FedNow, push-to-card, and stablecoins including USDG, USDP, and USDC, with USDT support coming soon. For finance teams managing treasury operations, this means one integration instead of separate banking relationships and crypto infrastructure—though whether CFOs will actually route payroll or vendor payments through stablecoins remains the operational question nobody's quite answered yet.

Modern Treasury says the platform runs on the same orchestration layer, ledger, and reconciliation system that has already processed more than $400 billion for clients including Anchorage Digital, Float, Gusto, Navan, Procore, and Sling Money. The company claims clients can go live "in days not months" with usage-based pricing, positioning the service as an alternative to the traditional Banking-as-a-Service model or securing direct bank sponsorships.

The move represents Modern Treasury's aggressive pivot into stablecoins following its acquisition of Beam late last year. The company has since partnered with Paxos to integrate regulated stablecoins and settlement into its platform, and joined the Global Dollar Network to support broader adoption of dollar-pegged digital currencies.

"Too many companies are held back by unreliable payments infrastructure and slow, complex bank integrations," said Matt Marcus, CEO of Modern Treasury. "With Payments, we're giving teams a faster path to market than BaaS or securing their own bank sponsorships."

The timing is notable. Stablecoins have moved from crypto-native use cases—exchanges, trading desks, DeFi protocols—into the periphery of corporate treasury conversations, particularly for companies with international payment flows or those building fintech products. The pitch: instant settlement, 24/7 availability, and lower cross-border costs compared to correspondent banking. The reality: accounting headaches, regulatory uncertainty, and the question of what happens when your CFO has to explain stablecoin exposure to auditors.

Modern Treasury's bet is that the infrastructure problem gets solved before the regulatory one becomes fatal. By offering stablecoins as just another payment rail alongside ACH and wires, the company is essentially saying: let treasury teams decide when and where crypto makes sense, rather than forcing an all-or-nothing adoption decision.

The platform's reconciliation layer may prove more immediately valuable than the stablecoin rails themselves. Companies that do experiment with digital dollar payments face a messy operational reality—tracking transactions across blockchain explorers, matching crypto transfers to invoices, and reconciling stablecoin movements with traditional accounting systems. If Modern Treasury's ledger can actually automate that reconciliation at scale, that's the unlock. The stablecoins are just another payment method. The ledger is the product.

What remains unclear is how much demand actually exists among corporate finance teams for integrated fiat-crypto payment infrastructure. Stablecoin evangelists have been predicting mainstream treasury adoption for years. So far, most CFOs have responded with some version of "call me when the accounting guidance is clear and my auditors stop wincing."