The remittance company said the service will move funds in more than 60 currencies across over 200 countries, with recipients collecting a Solana stablecoin issued by Anchorage Digital Bank.
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Eligible users can borrow USDC or USDT on Ethereum, while pledged collateral sits in smart contracts and remains subject to liquidation.
The Office of the Comptroller of the Currency’s final rule covers payment stablecoin issuance and some custody activities, with the GENIUS Act framework taking effect in mid-January.
Custody operations will join the bank’s Securities Services business, while software and professional services will move to Zodia Solutions under SC Ventures.
Positions nearest liquidation would be tapped first and their debt reduced. Eligibility for healthy loans and the lender’s route to ETH remain unspecified.
The tokenization platform behind funds from BlackRock, Apollo and KKR said it will source the dollars that settle those trades from a federally chartered bank instead of intermediaries.
