Payment giants may venture into Blockchain Mainnet, interpreting their underlying ambitions

Recently, there are rumors in the crypto space that a major payment service giant intends to launch its own Blockchain Mainnet. After acquiring related infrastructure companies, launching a proprietary chain may be its next step in the blockchain space. As a global leading payment service provider, the company acts as a technical bridge between merchants, acquirers, card networks, and issuing banks, ensuring that transactions are efficient and secure.

If the blockchain Mainnet is really launched, in a basic scenario, it may support stablecoin payments and deep integration with customer payments and merchant settlements; in an ideal scenario, it could completely reshape the payment system, including:

1. Bypass direct payments with card organizations and banks;

2. Micro-payment subscription models that are difficult to achieve in traditional systems;

3. generates income by holding a short-term deposit balance.

Currently, the company primarily operates as a payment gateway and acquirer. If it launches its own Blockchain network, it is expected to replace some roles of traditional issuing banks and card organizations, which could become a historic turning point in the payment industry.

Will the company really launch the Blockchain Mainnet?

Rumors about this payment giant launching a blockchain mainnet have been raised by several observers in the crypto space. Although there has not yet been any official confirmation, multiple sources have mentioned this matter. Similar to a certain brokerage firm launching a stock tokenization feature based on Layer 2 networks, this payment giant may be the next large fintech company to enter the market.

The company's mission is to "enhance the Internet GDP", focusing on building global economic infrastructure, helping startups to large enterprises manage online payments, operations, and growth. From this vision, Blockchain is undoubtedly a highly attractive technology.

In February 2025, the company acquired a stablecoin infrastructure company for approximately $1.1 billion, further strengthening its strategic position in the stablecoin financial infrastructure sector. Subsequently, at the company conference in May, it officially launched the "Stablecoin Financial Account" service.

This service has been launched in 101 countries, and businesses can:

• Hold multiple stablecoins;
• Deposit and withdraw stablecoins via traditional bank transfers in USD and EUR;
• Accessing and storing USDC on-chain through multiple mainstream Blockchain networks.

This means that businesses can easily access dollar-based stablecoins on the platform and achieve efficient fiat deposit and withdrawal operations through a seamlessly integrated traditional banking system.

In addition, the company acquired a Web3 wallet infrastructure startup in June 2025, which provides features such as wallet creation, transaction signing, key management, and gas abstraction based on email or SSO login. Combining the existing stablecoin infrastructure with wallet technology, launching its own Blockchain Mainnet to achieve coordinated development of the system seems to be a natural progression.

What changes will the launch of the blockchain mainnet bring?

Although the company's launch of the Blockchain Mainnet is still a rumor, if it becomes true, it could empower a range of financial services that were previously unattainable. Below are several conceptual directions based on existing business and potential expansion.

The company's existing functions as a PSP

To understand how the company can improve its services through Blockchain, it is necessary to first understand the role it currently plays. As one of the most well-known payment service providers, the company acts as a technological bridge between merchants, acquirers, card organizations, and issuing banks, ensuring that the payment process is smooth and secure. The main services include:

• Payment Gateway: Collects user card information, encrypts it and transmits it to the card network and issuing bank;
• Supports multiple payment methods: supports credit cards, digital wallets, bank transfers, and local payment methods;
• Fraud detection and security assurance: Detecting fraudulent transactions through machine learning, in compliance with security standards such as PCI-DSS;
• Multi-currency and international payment support: automatic conversion of multiple currencies to assist global sales;
• Reporting and analysis tools: Provide merchants with insights on transaction records, success rates, user behavior, etc.;
• Technical integration and operational support: Provide APIs and SDKs to assist enterprises in deploying payment systems, and handle refunds, billing, customer support, and other affairs;
• Customer Experience Optimization: Support for payment scenarios such as subscriptions, installment payments, refunds, etc;
• Merchant Settlement Intermediary: Collaborating with the acquirer or handling independently to settle funds from the issuing bank to the merchant.

Before the birth of PSP, merchants had to integrate multiple payment methods on their own and sign contracts with acquirers one by one, which greatly affected operations and user experience.

Blockchain Mainnet可能带来的变革

If the company launches a Blockchain Mainnet, it may bring about the following changes:

Basic Scenario

1. Merchant stablecoin account integrated with the Blockchain Mainnet

The company currently provides stablecoin account services in 101 countries, allowing merchants to hold multiple stablecoins and deposit or withdraw through traditional banking systems or on-chain networks. If a blockchain mainnet is launched, it is expected to further support deposits and withdrawals through its own chain, improving operational efficiency and expanding application scenarios.

2. Stablecoin Settlement Options

As a payment service provider, the company often collaborates with acquirers or takes on settlement functions itself. If the blockchain Mainnet is introduced, merchants may choose to settle sales revenue in USD stablecoins, which is particularly significant for merchants with high demand for USD but limited access.

3. User Wallet Service

By acquiring a Web3 wallet infrastructure company, the company has the infrastructure to create wallets for users. Although the current focus is on the merchant side, there is a possibility of providing individual users with an easy-to-use wallet that supports payments and other Web3 financial activities when combined with the Blockchain Mainnet and wallet services.

4. Customer Stablecoin Payment Options

Currently, the company mainly supports traditional payment methods such as credit cards and bank accounts. If Web3 wallets are supported, customers will be able to choose to use stablecoins for payment.

Ideal Scenario

1. Direct payments between customers and merchants

Payments made through credit cards or bank accounts rely on traditional financial networks. If the blockchain Mainnet supports users to directly pay merchants with stablecoins, it is expected to bypass issuing banks and card organizations, significantly improving settlement speed and reducing costs. However, it is important to note that the cancellation or refund mechanisms for on-chain payments are relatively complex, and a comprehensive protection mechanism needs to be introduced.

2. Subscription Service Based on Micropayments

Blockchain has micro-payment and streaming subscription capabilities. Currently, subscriptions are mostly billed monthly or yearly, while the blockchain mainnet can support a per-minute billing model, achieving automatic settlement based on actual usage time, bringing a new business model for service providers and consumers.

3. The Use of DeFi in Short-term Deposits

The current payment system has a long settlement cycle, partly due to the need to deal with issues such as fraud, cancellations, and refunds. Even if customers can pay merchants directly with stablecoins, some funds may still need to temporarily stay on the Blockchain Mainnet.

These short-term deposits will form a large liquidity pool that can be used for DeFi protocols, lending markets, or bond investments, thereby enhancing capital efficiency and generating additional returns.

Final Thoughts

After closely following the stablecoin industry and observing the related ecosystem, it is not difficult to find that the rumors about this payment giant launching its own Blockchain Mainnet are indeed quite noteworthy. So far, many payment giants have only treated Blockchain and stablecoins as additional functions to their traditional businesses. If this company truly releases its own Blockchain Mainnet, it could mark an important beginning for the transformation of payment system paradigms.

In the past, the company's main role was as a payment gateway or acquirer, but once the blockchain mainnet is built, it may simultaneously take on the functions of both issuers and card organizations at the technical level. More importantly, the blockchain mainnet has the potential to fully enhance payment efficiency through blockchain technology, expanding into new functionalities that traditional systems find difficult to reach, such as micro-payment-based streaming subscriptions and automated management of short-term idle funds.

Currently, payment systems are on the brink of a blockchain-driven wave of innovation. Whether rumors are true or not, any blockchain-related actions by the company could have a profound impact on the landscape of the payment industry. Whether we will usher in an era where blockchain reshapes payment infrastructure remains to be seen.