Coinbase plans to connect its stablecoin infrastructure with Thunes’ global fiat payout network, a move intended to give users of digital assets access to local bank accounts, mobile wallets, cards and alternative payment methods across more than 140 countries.
The companies announced the strategic collaboration on Oct. 19 at Money20/20 USA in Las Vegas. Under the agreement, Coinbase will integrate Thunes’ Direct Global Network into its platform, while Thunes will use Coinbase’s stablecoin tools to expand digital-asset services across its payment network.
The arrangement targets a persistent challenge in cross-border crypto payments: converting digital value into funds that recipients can actually spend through local payment systems. Stablecoins can move on blockchain networks at any hour, but recipients often need money delivered through domestic bank rails, mobile-money services or locally popular wallets. Thunes provides that “last-mile” connection.
Thunes said its network supports real-time payments in more than 90 currencies and over 140 countries. It connects to more than 12 billion mobile wallets, stablecoin wallets and bank accounts, and reaches 15 billion cards through more than 220 payment methods, according to the company.
Coinbase adds local payout routes
Coinbase’s integration of the Direct Global Network would expand the destinations available for payouts from its platform. Rather than relying only on conventional international wires or a limited set of crypto withdrawal options, the company could route payments into local clearing systems and alternative payment methods supported by Thunes.
Those methods include mobile-money and wallet services used heavily in markets where bank-account ownership remains uneven. Thunes named GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, Alipay and WeChat Pay HK among the services connected to its network.
The distinction is practical for a recipient receiving funds abroad. A payout may be more useful when it lands in a mobile wallet used for daily purchases or a local bank account than when it arrives as a digital asset requiring a separate conversion step. The integration is designed to extend payout coverage by country and currency, according to the companies.
Thunes’ Direct Global Network offers real-time payment delivery, meaning that once a transaction has been accepted and routed through participating payment partners, delivery can occur without the multi-day timetable associated with some cross-border bank transfers. Actual delivery times can still depend on the receiving country, currency, payment method and local compliance processes.
Stablecoin infrastructure moves closer to payment networks
Thunes will also adopt Coinbase’s stablecoin infrastructure through a suite of stablecoin solutions. The companies did not specify which stablecoins, blockchains or product features would be included in the initial rollout, but said the setup would support deeper stablecoin usage throughout the Thunes network.
That part of the agreement places stablecoins closer to the operational side of international payments rather than treating them solely as assets held or traded on a platform. A payment provider can use stablecoin infrastructure to move value between participating entities before delivering local-currency funds through domestic rails, potentially reducing reliance on traditional correspondent-banking steps for certain payment flows.
The companies framed the collaboration as a link between digital currencies and established payment systems. Thunes said the partnership is intended to support cross-border payouts where the sender may use digital assets while the recipient receives a familiar local payment format.
Coinbase’s infrastructure-products team said the work is focused on increasing last-mile connectivity. That reflects a competitive area of payments where the ability to reach more local endpoints can matter as much as blockchain settlement itself. A fast transaction on a ledger has limited utility if the recipient cannot readily access the funds through a bank, card or wallet in their own market.
Thunes brings established mobile-money coverage
Singapore-headquartered Thunes operates from 14 locations, including Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, New York, Paris, Riyadh, San Francisco and Shanghai. Its network has been built around connecting payment providers to domestic financial systems and alternative payment channels.
The company said Coinbase’s use of the network will support user payouts and connect digital-asset flows to traditional payment rails. For Coinbase, the deal potentially broadens the practical use cases for stablecoin balances beyond on-platform transfers or blockchain withdrawals.
Mobile wallets are particularly relevant to that effort. In several markets served by Thunes, mobile-money systems provide payment access for people who may not use conventional bank accounts regularly. Connecting stablecoin infrastructure to those systems could give payment providers a route to distribute value without requiring every recipient to interact directly with a crypto wallet or exchange interface.
The collaboration also reflects how payment companies are increasingly focusing on the endpoints of a transaction. Stablecoins may settle quickly between counterparties, but cross-border payments still depend on local licensing, foreign-exchange conversion, compliance controls and the receiving network’s ability to accept funds. Thunes’ existing domestic connections are intended to address that final delivery layer.
Execution will determine the commercial impact
The announcement establishes the framework for integration, rather than detailing launch dates, supported corridors, fees or payout limits. Those operational choices will determine where the service first becomes available and whether it offers material advantages over established remittance, card and bank-transfer routes.
Coverage across 140 countries gives the partnership a broad stated footprint, though availability will likely vary by payment method and jurisdiction. Some corridors may support mobile-wallet delivery, while others may rely on bank accounts, cards or different local rails.
For Coinbase, linking stablecoin services with a network built for local payouts could make its payment infrastructure more relevant to businesses and users moving funds internationally. For Thunes, Coinbase’s stablecoin tools could add another settlement and digital-asset layer to a network already focused on reaching recipients through the payment methods they use locally.
Explore how regional stablecoin policies shape cross-border flows in Asia—read this stablecoin adoption deep dive next.
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