33 trillion dollar surge in stablecoins integrates BTC with banking

New-generation finance platforms focused on cryptocurrencies are becoming increasingly prominent as alternatives to the traditional banking model. Jos Lazet, founder of Blockrise, described these platforms to The Block as “anarchist neobanks” and emphasized how digital assets are transforming the flow of value in the global economy.

Fragmented infrastructure powers banking services

Industry observers note that these platforms do not centralize banking, payments, custody, compliance, and blockchain-driven settlement under a single entity. Instead, they assemble services through different infrastructure providers. While users experience something similar to conventional banking, the underlying services are managed by a network of licensed or technical partners.

Mini glossary: BaaS, or Banking as a Service, is a model that lets a licensed bank open its accounts, payment, and compliance infrastructure to other fintechs via API. MiCA and MiCAR refer to the EU’s regulatory framework for crypto asset markets.

As a result, many startups now forge partnerships with licensed banks, stablecoin issuers, and blockchain payment networks rather than functioning as full banks themselves. This structure enables crypto companies to develop customer-focused financial products without acquiring a direct banking license.

Blockrise and bunq partnership stands out

Founded in 2017 and focused exclusively on Bitcoin, Blockrise entered into a partnership with European neobank bunq in April 2026. The deal integrated bank accounts directly with the Bitcoin platform. Fiat balances held within the service are now covered up to 100,000 euros under bunq’s European banking license and the Dutch Deposit Guarantee Scheme.

Blockrise became the first company to utilize bunq’s new BaaS platform. Through this integration, Blockrise can offer Bitcoin trading, asset management, and Bitcoin-based lending—alongside conventional banking functions—without its own banking license. Blockrise also holds a MiCAR license from the Dutch Financial Markets Authority (AFM).

Global expansion driven by diverse models

This trend is not limited to Europe. Hong Kong-based crypto payments startup RedotPay, founded in 2023, now serves more than 5 million users across 100 countries, handling an annual transaction volume of approximately 10 billion dollars. RedotPay reached unicorn status after securing 47 million dollars in investment from Coinbase Ventures, Galaxy Ventures, and Vertex Ventures in September 2025.

Other standout models in the market feature distinct risk profiles. Plasma One targets cities with high demand for US dollars such as Istanbul, Buenos Aires, and Dubai. Gnosis Pay links user holdings directly to personal wallets, avoiding third-party custody altogether. France-based Deblock combines the French IBAN system with a non-custodial crypto wallet.

Experts point out that the definition of “neobank” is widening. Some platforms emulate conventional bank experiences, while others build wallet-centric financial interfaces. This distinction significantly affects both user trust and operational risk profiles.

Regulation and stablecoin infrastructure fuel expansion

Growth in the sector has been driven not only by user demand but also by investments in infrastructure and regulatory clarity. In October 2024, Stripe acquired stablecoin payment provider Bridge for 1.1 billion dollars. Mastercard is pursuing an acquisition agreement for BVNK valued at up to 1.8 billion dollars. Stablecoin transaction volume reached 33 trillion dollars in 2025, a 72% increase from the previous year, even surpassing Visa’s 16.7 trillion dollar fiscal year performance.

In July 2025, the GENIUS Act came into force in the US, establishing a federal framework for issuing payment-related stablecoins. Europe’s MiCA regulations have been fully enforced since December 2024. In this environment, Société Générale launched a dollar-pegged stablecoin, BBVA confirmed its plans for a euro-pegged stablecoin for 2026, and the Hong Kong Monetary Authority granted its first stablecoin licenses to a joint venture between HSBC and Standard Chartered in April 2026.

These developments are making both the onboarding and holding of Bitcoin smoother than ever. Integrating bank-backed accounts with Bitcoin platforms can reduce the cost of moving between fiat and crypto. Still, some observers warn that this hybrid approach could gradually replace Bitcoin’s decentralized philosophy with a more regulated, intermediary-driven model.

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