What Chain does

Chain is a blockchain-based stablecoin infrastructure company that provides enterprise customers with APIs for global payments, card payouts, wallets, and double-entry accounting. Founded in 2014 in San Francisco, the company operates the proprietary Onyx blockchain as its underlying ledger and offers direct connectivity to major banking networks (ACH, Fedwire, FedNow, SEPA, Faster Payments) and card networks (Visa Direct, Mastercard Send) without layered intermediaries. Its platform supports conversion and settlement across 7+ stablecoins (USDC, USDT, DAI, PYUSD, EURC, TUSD, BUSD) and 12+ fiat currencies, reaching 200+ countries, with built-in KYC/KYB, AML, and sanctions screening and an immutable audit trail via the Onyx ledger. Target customers include banks, payment providers, fintechs, crypto platforms, securities platforms, real-world asset tokenizers, and lending platforms.

Chain's product suite is organized around four core APIs: Payments (stablecoin-to-fiat funding and payouts), Cards (real-time off-ramp to Visa/Mastercard globally), Wallets (managed crypto wallets with compliance screening), and Ledger (double-entry accounting for reconciliation). The company also publishes official SDKs for Node.js and Python and offers webhooks with HMAC-SHA256 signature verification for real-time event notifications. Security posture includes annual third-party security assessments, bi-annual penetration testing, monthly vulnerability scanning, and AES-256 encryption plus TLS across the platform.

Chain employs a hybrid go-to-market model combining an API-first, self-serve developer motion with direct enterprise sales. Pricing follows a freemium model: a free Standard Plan with up to 1 million transactions per month (production rate limit of 1,000 requests/min) and a quote-based Custom Plan with higher limits and Implementation Assistance services for enterprise clients. The company has raised over $40 million from strategic investors including Khosla Ventures, Pantera Capital, Capital One, Citigroup, Fiserv, Nasdaq, Visa, and Orange. Chain was acquired by Stellar in 2018 to form Interstellar and was re-acquired in 2020 to resume independent operations. The company is incorporated in the British Virgin Islands and currently operates with 11-50 employees.

Name

Chain

Legal name

Chain

Website

https://chain.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Chain provides blockchain-based stablecoin infrastructure — payments, card payouts, wallets, and double-entry ledger APIs — to banks, payment providers, fintechs, crypto platforms, and tokenization platforms via direct banking and card network integrations.

Ownership category

akta.pro rank

Product category

Stablecoin Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD)

akta.pro secondary industries

Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF), Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll) (FSAPAEAE)

Keywords

• Stablecoin payments infrastructure
• Fiat conversion rails
• Blockchain ledger API
• Crypto wallet management
• Cross-border payment rails

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Subscription Plans: Chain offers two subscription tiers: a free Standard Plan with up to 1 million transactions per calendar month (excluding read-only queries), and a paid Custom Plan with higher transaction limits for enterprise customers requiring greater scale.
2. API Usage and Transaction Fees: Enterprise customers on Custom Plans likely pay based on API usage volume and transaction throughput. The Standard Plan is free with transaction limits; Custom Plans have higher limits and involve paid Implementation Assistance services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels10 records

Core offering

Chain provides blockchain-based stablecoin infrastructure that enables enterprises to convert stablecoins into fiat currencies and vice versa at scale, execute global stablecoin payments and payouts, and off-ramp stablecoins directly to Visa and Mastercard cards via Visa Direct and Mastercard Send. Its offerings include the Payments product, the Cards product, the Wallets API with automated compliance screening, the Ledger API for double-entry accounting, and the underlying Onyx blockchain for tamper-proof transaction recording. The platform is delivered as a unified REST API with SDKs for Node.js and Python, targeting banks, payment providers, fintechs, crypto platforms, securities platforms, and real-world asset tokenizers.

Product overview

Chain is a blockchain-based stablecoin infrastructure platform offering a unified suite of products for payments, cards, and wallet management. The platform consists of two primary products: Payments (for global stablecoin payments, payouts, and fiat conversion) and Cards (for real-time stablecoin-to-card off-ramps via Visa Direct and Mastercard Send). Supporting these core products are the Wallets API (for crypto wallet management with compliance screening) and Ledger API (for double-entry accounting). The platform is built on the Onyx blockchain protocol and offers official SDKs for Node.js and Python. All products share a unified API architecture, compliance infrastructure (KYC/KYB, AML, sanctions screening), and webhook notification system.

Differentiator

Problem solved

Functional benefit

Products and services

• Payments Global stablecoin payments, payouts, and fiat conversion infrastructure that enables enterprises to fund accounts from linked bank accounts, convert fiat to stablecoins automatically, and pay out to registered payees worldwide. Targets enterprises such as banks, payment providers, fintechs, and crypto platforms needing unified, programmable rails to move money between stablecoins and traditional currencies.
• Cards Real-time stablecoin-to-fiat card off-ramp that converts USDC, USDT, DAI, PYUSD, EURC, TUSD, and BUSD to fiat and pushes payouts directly to any Visa or Mastercard globally in seconds via Visa Direct and Mastercard Send. Designed for enterprises that need to deliver funds to existing cardholders without card issuing or layered intermediaries.
• Wallets API API for registering and managing crypto wallets that hold USDC balances, enable transfers, and power card spending. Each wallet address is automatically screened against sanctions lists and risk databases. Targeted at enterprises building crypto-native treasury and payment flows.
• Ledger API Complete double-entry accounting ledger that records at least two entries (debit and credit) for every transaction so books always balance. Supports query by date range, type, direction, and currency, with CSV export for reconciliation, auditing, and financial reporting. Built on Chain's Onyx blockchain for immutability.
• SDKs (Node.js and Python) Official client libraries for Node.js and Python that handle authentication, request signing, pagination, error handling, and webhook verification, enabling developers to integrate Chain's API into their applications.
• Onyx Blockchain Underlying blockchain protocol built by Chain that powers its infrastructure. Provides immutable ledger functionality for transaction recording and a tamper-proof system of record for the entire Chain platform.

Quantifiable outcome

• Stablecoin transfers confirm in seconds with fiat payouts cleared the same day
• +3 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature8 records

Partnerships

Nine partnerships are on record, tiered flagship, major, minor and core.

• VisaflagshipStrategic or Co-development Partner · 1 January 2016Visa introduced an international B2B payment solution built on Chain's blockchain technology in 2016. Ongoing partnership for blockchain-based payment infrastructure.
• CitigroupflagshipStrategic or Co-development PartnerPioneering blockchain and global banking integration partnership announced in 2017 for blockchain technology development.
• NasdaqflagshipStrategic or Co-development PartnerPartnership for blockchain technology initiative, combining Nasdaq's market expertise with Chain's infrastructure.
• State StreetflagshipStrategic or Co-development PartnerPartner in unveiling open standard for blockchain technology with Chain and global financial firms.
• Mitsubishi UFJ Financial Group (MUFG)majorStrategic or Co-development PartnerConducted blockchain trials with Chain exploring enterprise blockchain applications.
• Tiffany & Co.minorStrategic or Co-development PartnerCryptoPunks NFT jewelry collaboration exploring blockchain-based luxury goods.
• Kraft Sports Entertainment (New England Patriots)majorGTM or Marketing PartnerMulti-year partnership for blockchain-powered fan engagement and Web3 experiences.
• Miami HeatmajorGTM or Marketing PartnerWeb3 sponsorship deal for blockchain-powered fan experiences and sports engagement.
• PlaidcoreTechnology or IntegrationBank account linking integration via Plaid for secure funding connections. Plaid Link tokens enable users to connect bank accounts to the Chain platform.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Circle: Circle is the issuer of USDC and operates stablecoin payment and treasury APIs for enterprises. It directly overlaps with Chain's stablecoin-to-fiat conversion rails and serves the same bank and fintech buyer.
• Ripple: Ripple operates RippleNet for cross-border payments and has launched its own RLUSD stablecoin, putting it in direct competition with Chain's stablecoin payment and off-ramp infrastructure targeting banks and payment providers.
• Paxos: Paxos issues regulated stablecoins (USDP, PYUSD) and provides tokenization, custody, and settlement infrastructure — directly competing with Chain across stablecoin issuance, payments, and wallet APIs.
• Fireblocks: Fireblocks provides digital-asset custody, wallet infrastructure, and payment network connectivity for institutions — overlapping with Chain's wallet, ledger, and stablecoin transfer APIs serving banks and fintechs.
• BitGo: BitGo is a regulated digital-asset custodian and infrastructure provider with wallet, custody, and settlement services that overlap with Chain's Wallets API and payment-rail connectivity for institutional clients.

Broad incumbents

• Coinbase: Coinbase offers stablecoin infrastructure, custody, payments APIs (Coinbase Commerce, Coinbase Business), and the Base network, competing with Chain as a broader incumbent in the enterprise stablecoin stack.
• Stripe: Stripe's global payments platform has expanded into stablecoin acceptance, fiat-to-stablecoin on-ramps, and the Bridge acquisition, positioning it as a broad incumbent competing with Chain for developer-led stablecoin payment volume.

Emerging players

• Bridge (Stripe): Bridge (acquired by Stripe) builds stablecoin orchestration and issuance APIs for developers, making it an emerging competitor to Chain's API-first stablecoin-to-fiat conversion and treasury platform.
• Zero Hash: Zero Hash provides embedded crypto and stablecoin infrastructure (custody, payments, on/off-ramps) to fintechs and banks — overlapping with Chain's API-driven approach to compliance-screened wallet and payment rails.
• BVNK: BVNK offers stablecoin payment processing and on/off-ramp infrastructure to enterprises, targeting similar B2B cross-border use cases as Chain with multi-currency wallet and payout APIs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/chain
• GitHubgithub.com/chain
• YouTubeyoutube.com/@chain
• Facebookfacebook.com/chain
• Instagraminstagram.com/chain
• TikToktiktok.com/@chain
• LinkedInlinkedin.com/company/go-interstellar

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds5 records

Investors22 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chain