Wirex BaaS Surpasses $2B Annualised Volume in 110 Days
Wirex BaaS Reaches $2 Billion Annualised Card Spend – Stablecoin Infrastructure Growth Accelerates
Key Takeaways
- Wirex BaaS surpassed $2 billion in annualised onchain card spend volume in July, doubling from $1 billion within 110 days.
- The platform recorded 28% month on month card spend growth and processed more than 7 million stablecoin card purchases in the past six months.
- Since launching in November 2025, Wirex BaaS has partnered with over 70 clients and is signing more than 15 new partners per month.
- Adjusted annual stablecoin settlement volume has reached over $10 trillion, representing 63% year on year growth.
Annualised Card Spend Doubles Within 110 Days
Wirex announced that its Banking as a Service arm has exceeded $2 billion in annualised onchain card spend volume. According to PaymentScan data cited by the company, this milestone was reached in July and represents a doubling of volume over the past 110 days.
The development follows an earlier benchmark in April, when Wirex reported reaching its first $1 billion in annualised volume within 131 days. The acceleration from $1 billion to $2 billion in a shorter period indicates increased activity on the platform’s stablecoin based card infrastructure.
PaymentScan data shows that card spend volume grew 28% month on month. Over the past six months, more than 7 million stablecoin card purchases were processed onchain. The company states that all volume figures are publicly verifiable onchain via PaymentScan.
For users of crypto enabled payment services, these figures indicate rising transaction activity linked to stablecoin funded card products. Annualised card spend volume reflects the projected total based on current transaction rates.
Stablecoin Settlement Volume Reaches $10 Trillion
Wirex attributes part of its growth to broader market demand for embedded stablecoin functionality. The company reports that adjusted annual stablecoin settlement volume has surpassed $10 trillion, representing a 63% year on year increase.
The firm states that building stablecoin settlement capabilities in house requires regulatory authorisation, card network membership, and settlement infrastructure. Wirex BaaS was launched to provide these components through a single integration.
According to Wirex, businesses are increasingly seeking to build financial services on stablecoin rails rather than relying solely on traditional banking infrastructure. The company positions its Banking as a Service model as a way to reduce technical and regulatory barriers for digital platforms.
For platforms integrating crypto payments, stablecoin settlement infrastructure plays a central role in enabling conversion between fiat and digital assets while maintaining compatibility with existing card networks.
More Than 70 Partners Since November 2025
Wirex BaaS launched in November 2025 and has since partnered with over 70 clients. Named partners include BingX, Barca Mobile, Send, Lobstr Wallet, Cardano, COCA, Folks Finance, Kolo, GoMining, uTorg, and Sophon.
The company reports that it is signing more than 15 new partners each month. The service offers card issuance, corporate IBANs, 1:1 fiat to stablecoin conversion, cross border payouts, push to card payments, yield functionality, and real time settlement through a single API integration.
Wirex states that it is one of the few crypto native platforms to hold both Visa and Mastercard principal membership. The infrastructure supports stablecoin card issuance connected to global Visa and Mastercard rails.
For fintech firms, crypto platforms, and enterprises, this model enables the launch of stablecoin based accounts and payment cards without integrating multiple providers for settlement, card issuance, and compliance components.
Recognition as a Full Stack Issuer
The company’s announcement follows its inclusion in Delphi Digital’s Framework for Crypto Neobanks. The report named Wirex BaaS as one of three full stack issuers globally.
Full stack issuers are described as entities that connect stablecoin rails to the existing financial system. According to the report cited by Wirex, this model is considered likely to endure as the market consolidates.
Wirex also stated that it plans to extend its Banking as a Service offering later this month with an additional product built on stablecoin rails. The product will be available through the same integration infrastructure.
Wirex’s Broader Onchain Financial Ecosystem
Wirex reports that it has processed more than $20 billion in transactions across 130 countries and serves over 8 million users since its founding in 2014. Its ecosystem includes consumer and business focused products such as Wirex One, Wirex Business, Wirex Private, and Wirex Agents.
For consumers, the platform provides payment cards and banking features designed for everyday spending. For businesses, the company offers a financial stack through a single Banking as a Service API.
The infrastructure is described as non custodial and designed to connect blockchain native settlement with traditional financial rails. Settlement data is positioned as transparent and auditable onchain.
Our Assessment
Wirex BaaS has reached $2 billion in annualised onchain card spend volume within 110 days of surpassing its first $1 billion milestone. The company reports sustained month on month growth, over 7 million recent stablecoin card purchases, and more than 70 partnerships since launch in November 2025. Adjusted annual stablecoin settlement volume has climbed above $10 trillion, reflecting broader expansion in stablecoin based financial services. These figures indicate increasing transaction activity and integration of stablecoin infrastructure into card and payment products.
