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The global payments infrastructure problem has a stablecoin-native solution, and Mural Pay is the most complete B2B version of it available to businesses in 2026.
Mural Pay is not a consumer app with a business tier added on top. It is a stablecoin-native payments infrastructure platform built from the ground up for companies, fintechs, banks, and payroll platforms that need to move money across borders at speed and at scale, with stablecoins as the default settlement rail rather than an optional add-on to a legacy wire transfer system.
Founded in 2022 and headquartered in New York with offices in Denver and Bogota, Mural Pay has built the API-first financial infrastructure stack that the previous generation of cross-border payments platforms could not deliver: global accounts with real USD routing details, instant stablecoin payouts, batch payments for 100 plus recipients, built-in compliance, and yield on idle balances, all accessible through a single API integration that Mural's forward-deployed engineers can get a business live on in under three weeks.
As covered in our analysis of tools powering next-generation stablecoin finance, the B2B stablecoin infrastructure category has matured rapidly in 2026, and Mural Pay sits at the intersection of every trend driving that maturation: stablecoin payment volume growth, LatAm demand for dollar-denominated business accounts, and the enterprise shift from SWIFT to programmable settlement rails.
The pitch is simple: if your business moves money across borders, Mural Pay wants to replace every slow, expensive, opaque wire transfer in your operations with a stablecoin-settled equivalent that arrives in seconds, costs less, and generates a complete audit trail automatically.
Key Takeaways
- Mural Pay provides global stablecoin accounts, real-time payouts, batch payments, FX conversion, yield on idle balances, and built-in compliance via a single API integration.
- Named enterprise customers include Opera, Deel, Bolt, and Koywe, validating production deployment across content creator payouts, global payroll, e-commerce merchant accounts, and LatAm currency conversion.
- Mural Pay is licensed as a money transmitter under Mural Networks Inc. (NMLS #2744530) and handles compliance natively, removing the need for businesses to acquire their own licensing for many use cases.
- The platform processes over $200 million in annual stablecoin volume across 5,000 plus monthly payments, with settlement times of seconds to minutes versus days for traditional wires.
- Pricing transparency is limited on the public site. Enterprise pricing requires a sales conversation, which is a friction point for smaller businesses evaluating the platform against self-serve alternatives.
What Is Mural Pay?
Mural Pay is a stablecoin-native global payments infrastructure platform that allows businesses to hold multi-currency balances, send and receive payments globally, convert currencies at market rates, earn yield on idle funds, and manage compliance, all through a single API. The operator entity is Mural Technologies Inc., with money transmission services provided by Mural Networks Inc. (NMLS #2744530), giving it licensed status as a money transmitter in applicable US states.
The founding thesis is that the global payments problem is not primarily a software problem. It is a settlement rail problem. Traditional B2B cross-border payments run on correspondent banking networks built for a world of batch processing, delayed reconciliation, and opaque fee stacking. Stablecoins eliminate those constraints at the settlement layer.
Mural Pay's job is to build the product infrastructure that makes stablecoin settlement accessible to businesses that do not want to build blockchain integration themselves.
The team operates from New York, Denver, and Bogota, with the Bogota office reflecting the company's strong Latin America focus. Mural Pay supports individual virtual accounts denominated in USD, COP, ARS, MXN, and other currencies, making it operationally native to the Americas payment corridors that represent the highest cross-border payment friction globally.
How Mural Pay Works
Mural Pay's platform is organized around six core functions that together cover the full lifecycle of business money movement.
Store. Global Stablecoin Accounts hold balances in multiple currencies, including USDC, USDT, PYUSD, and fiat equivalents, in one place with full balance visibility and instant access for outgoing payments. For businesses that currently manage separate accounts across multiple banks for different currency corridors, the unified balance visibility alone is a meaningful operational improvement.
Send. Payouts settle in seconds to minutes for stablecoin transfers and in faster-than-SWIFT timelines for fiat conversions to local bank accounts. Batch payments allow 100 plus recipients to be paid simultaneously, which is the capability that makes Mural Pay viable for payroll platforms and marketplaces. Opera uses this to pay thousands of content creators instantly in stablecoins. Deel uses it to power stablecoin payroll for employees and contractors worldwide.
Receive. Dedicated virtual accounts with real USD routing details and local currency account numbers allow businesses to receive payments from international clients without requiring those clients to use stablecoins themselves. The inbound can be a wire, ACH, or stablecoin transfer. Mural Pay handles the routing and FX complexity so funds land ready to use.
Convert. FX conversion at market rates with full pre-confirmation transparency. No hidden spread, no deceptive mid-market rate claims with undisclosed markups. Koywe integrated Mural specifically for its market-leading FX rates on stablecoin-to-local-currency conversions across Latin America.
Earn. Idle stablecoin balances can be put to work generating yield rather than sitting dormant. The yield product connects Mural Pay to the broader tokenized Treasury and RWA yield infrastructure that has become a standard expectation for B2B stablecoin accounts in 2026.
Comply. Built-in AML, KYC, and regulatory features automate compliance checks and regulatory reporting for businesses using the platform. Critically, Mural Pay's money transmitter licensing means that businesses using the platform for many use cases do not need to acquire their own licensing, which removes one of the primary barriers to entry for fintechs and platforms wanting to offer stablecoin payment products.
The compliance-as-infrastructure model is the most commercially significant feature of Mural Pay for fintech builders. Acquiring a money transmitter license across US states takes 12 to 24 months and significant capital. Mural Pay's licensing covers the stack so builders can focus on product rather than regulatory overhead.
Why Mural Pay Matters in 2026
The commercial context for Mural Pay's growth is straightforward. The Americas have some of the highest cross-border payment costs and slowest settlement times of any major economic region.
SWIFT wires between the US and Latin America typically take one to three business days and carry combined fees of $25 to $50 per transaction plus FX spread. For a marketplace paying 500 vendors in Colombia, Mexico, and Argentina every month, those costs are not rounding errors. They are a significant operational expense that stablecoin rails can materially reduce.
As covered in our analysis of why stablecoins have beaten ACH in volume and the real race is now liquidity, the stablecoin volume story in 2026 is not about speculation. It is about enterprises running real payment operations on stablecoin rails because the efficiency advantage over legacy rails has become undeniable at scale. Mural Pay sits directly in that commercial current.
The $200 million in annual volume and 5,000 plus monthly payments are early-stage numbers relative to the market opportunity, but they are production numbers across named enterprise customers with real business operations, not proof-of-concept deployments. Opera is the world's fourth-largest browser. Deel is one of the largest global payroll platforms. Bolt is a major e-commerce infrastructure company. These are not small pilots.
The agentic payments infrastructure trend adds a forward-looking dimension to Mural Pay's API-first architecture. As businesses build programmatic financial operations with AI orchestration, the API-first payment infrastructure layer becomes more strategically important than ever. Mural Pay's architecture is native to that direction.
Product Strengths
1. The Compliance Infrastructure Advantage Is Real and Underappreciated
The money transmitter licensing that Mural Networks carries is not a checkbox. It is a genuine product advantage that most Mural Pay competitors cannot replicate without years of regulatory work. For a fintech building a cross-border payment product in 2026, the choice between building on Mural Pay and building on an unlicensed stablecoin API is largely the choice between having a compliance partner and not having one.
The built-in AML and KYC tooling, combined with the NMLS-registered money transmitter license, means businesses using Mural Pay for payment disbursement inherit a compliance infrastructure rather than building it. This is the same structural advantage that has made Oobit Business's 24-hour onboarding compelling in the corporate stablecoin space, translated to the infrastructure layer where Mural operates.
2. Enterprise Customer References Validate Production Readiness
Opera, Deel, Bolt, and Koywe are not case studies from early adopters. They are production deployments at companies with real operational requirements and real accountability for payment reliability. When Deel uses Mural Pay to process stablecoin payroll for thousands of employees, the failure tolerance is essentially zero. That production track record across high-stakes enterprise customers is the strongest possible validation of platform reliability.
The forward-deployed engineer model, where Mural's team commits to getting a business live in under three weeks, is also a genuine differentiator. Most enterprise payments infrastructure integrations take months. Three weeks is a competitive advantage that changes the evaluation calculus for businesses comparing Mural Pay against building their own stablecoin payment stack.
3. The LatAm Focus Translates into Real Product Depth
Mural Pay's Bogota office and support for COP, ARS, MXN, and other LatAm currencies are not marketing geography. They translate into operational depth in the corridors where cross-border payment friction is highest. Local currency virtual accounts, LatAm fiat off-ramp coverage, and FX rates that Koywe describes as best-in-market for stablecoin-to-local-currency conversions reflect genuine corridor-specific product investment.
For businesses serving LatAm contractors, vendors, or end users, Mural Pay's LatAm depth is a meaningful capability advantage over global payment platforms that treat the region as an afterthought. As covered in our Littio review and Fasset Series B analysis, the LatAm stablecoin payment infrastructure market is one of the most commercially validated emerging segments in the global stablecoin ecosystem.
4. The Six-Function Platform Eliminates Infrastructure Patchwork
Most businesses currently managing stablecoin payment operations stitch together separate providers for custody, payouts, FX, compliance, and yield. Each integration is a maintenance burden and each provider boundary is a reconciliation friction point. Mural Pay's six-function platform covering Store, Send, Receive, Convert, Earn, and Comply eliminates that patchwork in a single API integration.
The white-label capability for fintechs that want to maintain their own branding while using Mural Pay's infrastructure is the enterprise extension of that same consolidation logic. A fintech can build a branded global payment product on Mural Pay's infrastructure without their end users knowing which infrastructure provider sits underneath.
Partnerships, Integrations, and Momentum
Taxbit (integrated August 2025) added stablecoin tax compliance to Mural Pay's payment and invoicing stack, completing the financial operations loop for businesses that need to report stablecoin payment activity for tax purposes. This integration addresses one of the most common objections to stablecoin business payments: the operational complexity of tax reporting on crypto-denominated transactions.
Turnkey powers Mural Pay's self-custodial wallet infrastructure, allowing customers to maintain full control over their digital asset keys rather than placing custodial trust in Mural Pay itself. In the context of stablecoin risk management, the self-custodial option materially reduces platform counterparty risk for businesses with large stablecoin balances.
Deel is the highest-profile partner deployment and the most commercially significant signal. Deel's use of Mural Pay's API to power stablecoin payroll for thousands of employees worldwide confirms that the platform operates at the scale and reliability standard that one of the world's leading global payroll platforms requires. That reference alone is worth more than any number of pilot program announcements.
Bolt's embedding of Mural merchant accounts directly into its platform demonstrates the white-label capability in production: merchants can accept stablecoin payments and pay vendors globally without leaving the Bolt interface, with Mural Pay operating as invisible infrastructure underneath.
Real Adoption and Use Cases
The four named customer deployments cover the primary B2B stablecoin payment use cases comprehensively.
Opera's content creator payout use case is the batch payment capability: thousands of recipients, global distribution, instant settlement, zero wire fees. The traditional alternative is thousands of individual international wires with per-transaction fees, multi-day settlement, and a reconciliation process that consumes significant operations team time.
Deel's payroll use case is the compliance-as-infrastructure advantage in action: a global payroll platform using Mural Pay's licensed infrastructure to offer stablecoin payroll without acquiring its own money transmitter licensing across all the jurisdictions where its payroll recipients are located.
Koywe's FX use case is the LatAm corridor depth: a platform that specifically chose Mural Pay for best-in-market FX rates on stablecoin-to-local-currency conversions, validating that Mural Pay's FX product competes on commercial terms in the corridors that matter most for its target market.
Bolt's embedded merchant accounts use case is the white-label capability: a major e-commerce infrastructure company building stablecoin payment acceptance and vendor payments into its merchant platform using Mural Pay as invisible infrastructure.
Pricing and Commercial Model
Mural Pay's pricing is not publicly disclosed on its website in standard tier format. The public site directs all commercial conversations to a sales call with the team.
From available information and market context, the commercial model appears to be:
Transaction fee model: Zero or near-zero fees on USDC stablecoin transfers, with Mural covering gas fees on many routes. FX conversions carry a spread that varies by corridor and volume. Fiat settlement to local bank accounts carries fees that depend on the destination corridor and payment method.
API access: Available through the developer sandbox with production access gated through a sales conversation. The forward-deployed engineer onboarding model suggests enterprise contracts rather than self-serve monthly subscriptions for production deployments.
White-label licensing: For fintechs and platforms white-labeling Mural Pay's infrastructure, the pricing structure is likely a revenue-share or volume-based licensing arrangement rather than a flat fee.
The absence of published pricing is the most significant transparency gap in Mural Pay's current product positioning. Businesses that want to evaluate Mural Pay against alternatives like Wise Business, Airwallex, or Bridge cannot do so without entering a sales process first.
Where Mural Pay Still Faces Challenges
The first challenge is pricing transparency
The lack of any published pricing on the public website is a meaningful friction point for the businesses Mural Pay most needs to reach: growth-stage fintechs and platforms evaluating infrastructure options without the budget for extended sales processes. Every payment infrastructure competitor that publishes clear pricing has an evaluation advantage in the middle of the market where self-serve matters most.
The second challenge is track record depth
Founded in 2022 and with $200 million in annual volume, Mural Pay is early in building the multi-year production track record that enterprise buyers use to assess platform risk. The Opera, Deel, Bolt, and Koywe references are strong, but they represent a relatively small number of named customers across a platform that aspires to serve the full global business market. Scaling from four named enterprise references to a robust customer portfolio takes time that newer entrants cannot shortcut.
The third challenge is geographic concentration
Mural Pay's strongest product depth is in the Americas corridors. Its global coverage is described as broad but not as specifically validated in European, Asian, or African payment corridors as it is in LatAm. For businesses with significant payment operations outside the Americas, the evaluation question is whether Mural Pay's global coverage matches its LatAm depth or whether it is thinner in non-primary markets.
Final Verdict
Mural Pay is the most complete stablecoin-native B2B payments infrastructure platform available in 2026 for businesses that need to move money across borders in the Americas, particularly for payroll, marketplace payouts, and vendor payments where stablecoin settlement speed and cost advantages over traditional wires are most tangible.
The compliance-as-infrastructure model backed by Mural Networks' money transmitter licensing is a genuine competitive moat that most stablecoin payment platforms do not have. The named enterprise customer references at Opera, Deel, Bolt, and Koywe validate production readiness at a quality standard that early-stage platforms cannot claim. The six-function platform eliminates the infrastructure patchwork that most businesses currently manage with separate providers.
The honest caveats are the pricing transparency gap, the early-stage track record, and the geographic concentration in Americas corridors. Businesses evaluating Mural Pay should request pricing early in the conversation rather than investing in a sales process without knowing the commercial terms.
The bigger strategic question for Mural Pay in 2026 is how fast it can grow its named customer roster and geographic corridor depth before better-funded competitors like Bridge (now inside Stripe) and Circle's direct enterprise relationships develop more complete product coverage in the same B2B stablecoin infrastructure market.
The product is strong. The timing is right. The execution race against better-capitalized competitors is the defining challenge for the next 18 months.
Read Next:
- Best Neobanks for Stablecoins in 2026
- Oobit Business: Stablecoin-Powered Corporate Finance Stack
- Top 8 Tools Powering the Next Generation of Stablecoin Finance in 2026
FAQ:
1. What does Mural Pay actually do?
Mural Pay is a stablecoin-native B2B payments infrastructure platform that allows businesses to hold multi-currency stablecoin and fiat balances, send and receive payments globally in seconds, pay 100 plus recipients in batch, convert currencies at market rates, earn yield on idle balances, and automate compliance, all through a single API integration. It is built for fintechs, payroll platforms, marketplaces, banks, and global businesses that need to move money across borders faster and cheaper than traditional wire transfer infrastructure allows.
2. Is Mural Pay licensed and regulated?
Yes. Money transmission services are provided by Mural Networks Inc., which holds NMLS license #2744530 as a registered money transmitter in applicable US states. This licensing is a significant commercial advantage: businesses using Mural Pay for payment disbursement in many use cases inherit this compliance infrastructure rather than needing to acquire their own money transmitter license, which typically takes 12 to 24 months and significant capital to obtain across US states.
3. How does Mural Pay compare to Wise Business for international payroll?
Mural Pay and Wise Business serve different primary use cases. Wise Business is strongest for individual international transfers and multi-currency accounts with predictable flat or percentage fees and strong brand recognition among SMEs. Mural Pay is stronger for batch payroll disbursements at scale where stablecoin settlement eliminates per-transaction wire fees, for platforms that need white-label infrastructure rather than branded Wise accounts, and for LatAm corridors where Mural Pay's local currency virtual account depth is more developed than Wise's regional offering. For a platform paying 500 contractors in Latin America monthly, Mural Pay's batch payment capability and LatAm corridor depth make it the stronger infrastructure choice. For a 10-person business making occasional international transfers, Wise Business's transparent pricing and self-serve onboarding are more appropriate.
4. What stablecoins does Mural Pay support?
Mural Pay supports USDC, USDT, and PYUSD as the primary stablecoin settlement assets. USDC is the primary stablecoin for most use cases given its regulatory standing and liquidity depth across the corridors Mural Pay serves. The platform also handles fiat currencies including USD, COP, ARS, MXN, and others, with stablecoin and fiat settlement bridged through the conversion and off-ramp infrastructure.
5. How long does it take to integrate Mural Pay?
Mural Pay commits to getting businesses live in under three weeks through its forward-deployed engineer model, where Mural's own engineers support the integration process rather than leaving the business to work through documentation alone. The developer sandbox is available for immediate API exploration before a production agreement is in place. For businesses that have built on similar payment API platforms before, the integration complexity is comparable to any enterprise payment API, with the stablecoin-specific elements handled by Mural Pay's SDK rather than requiring the business to build blockchain integration independently.
Disclaimer:
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice. No material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument or service. Readers should conduct their own independent research or consult a qualified professional. Rates, fees, and product features described are subject to change. Verify current terms directly at muralpay.com.
