What Blacksheep does

Blacksheep is an Australian-regulated stablecoin payments and FX platform that connects local banking rails (NPP, PayID, ACH, SEPA, SWIFT) to crypto wallets for individuals and businesses. The company operates a self-serve product at my.blacksheep.money with a tiered KYC/KYB verification system and never holds pooled customer crypto assets; stablecoins are delivered directly to user-controlled wallets (MetaMask, Phantom, Ledger). Core products include Individual and Business on/offramp services, Third-Party Payments for cross-border B2B settlements, and a Blacksheep API for programmatic access, with Payment Portal and Remittance API announced as upcoming.

The company is registered as an Independent Remittance Dealer and Digital Currency Exchange with AUSTRAC (DCE100860053-001), a Financial Services Provider in New Zealand (FSP1009556), and a Money Services Business in Canada (N300000174). It is headquartered in Brisbane with a five-person team. As of March 2026, the platform had processed over AUD $20 million in payment volume since launch, and new customer registrations signalled AUD $22 million per month of interest for upcoming products.

Blacksheep monetizes via transaction fees of 0.5% plus fixed per-transaction fees (ranging from $1 for NPP/PayID/ACH transfers to $20-25 for Fedwire/SWIFT), plus pass-through network fees ($0.50 on Ethereum/Base/Polygon/Arbitrum/Avalanche, $5.00 on Tron) and a +1% small-order surcharge on orders under $500 USD equivalent. The go-to-market is product-led with self-serve signup, content-driven SEO and social acquisition, and a stated focus on Australian ABN-registered businesses with international payment needs as the primary customer segment, plus a secondary push into SMSFs.

Name

Blacksheep

Legal name

Blacksheep Operations Pty Ltd

Website

https://blacksheep.money

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Blacksheep is an Australian-regulated stablecoin payments and FX platform that connects local banking rails to self-custody crypto wallets for Australian businesses and individuals, charging 0.5% plus fixed fees on cross-border and on/offramp transactions.

Ownership category

akta.pro rank

Product category

Cross-Border Payments

NAICS

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

SIC

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

akta.pro primary industry

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

akta.pro secondary industries

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll) (FSAPAEAE), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF)

Keywords

• Stablecoin payments
• Fiat onramp offramp
• Cross-border remittance
• Crypto payment rails
• ABN business payments

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Transaction Fees: Platform charges 0.5% plus fixed fee per transaction for buying/selling stablecoins. Fees are taken from the stablecoin side (USDC or USDT). Additional small order fees apply for orders under $500 USD equivalent.
2. Network Fees: Pass-through network fees depending on blockchain used. $0.50 for Ethereum, Base, Polygon, Arbitrum, Avalanche; $5.00 for Tron. Built into pricing displayed at transaction time.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Blacksheep provides a regulated stablecoin-powered payments and FX platform that lets Australian individuals and businesses move money between bank accounts, currencies, and self-custody crypto wallets. The core product set includes an Individual on/offramp for converting AUD to stablecoins (USDC/USDT) delivered directly to user wallets, a Business on/offramp with KYB verification and OTC services for higher-volume transactions, and Third-Party Payments enabling cross-border B2B transfers to overseas contractors and suppliers. The platform integrates local payment rails (NPP, PayID, ACH, SEPA) and supports multi-chain wallet delivery, with all transactions settled via self-custody architecture so that no pooled customer balances are held.

Product overview

Blacksheep is a regulated stablecoin payments and FX platform offering multicurrency and stablecoin payment services for Australian businesses and individuals. The core product portfolio consists of the On/Offramp product line (split into Individual and Business tiers) enabling fiat-to-crypto conversions with self-custody delivery, Third-Party Payments for international B2B payments, and the Blacksheep API for programmatic access. Two products are announced as coming soon: Payment Portal and Remittance API. The platform processes payments via local rails (NPP for AUD, ACH for USD, SWIFT, PayID, FPS) and supports stablecoins USDC, USDT, and BTC. All services are built around self-custody principles with no pooled balances held by the platform.

Differentiator

Problem solved

Functional benefit

Products and services

• On/Offramp - Individual Individual-focused on/offramp service enabling Australian users to deposit AUD via NPP/PayID, convert to stablecoins (USDC/USDT), and receive crypto directly into self-custody wallets such as MetaMask, Phantom, or Ledger. Supports AUD deposits and withdrawals processed within 1-2 minutes, targeting ABN-registered individuals seeking compliant access to crypto markets without surrendering custody.
• On/Offramp - Business Business-focused on/offramp service with higher transaction limits (AUD $10,000/day, AUD $70,000/week), OTC services for transactions of AUD $10,000 and above, and KYB verification supporting companies, trusts, and SMSFs. Enables ABN-registered Australian businesses to break free from restrictive banking using stablecoin-powered payments while maintaining entity-level compliance.
• Third-Party Payments Service enabling businesses to pay overseas contractors, settle supplier invoices, or send money across borders directly from a wallet or Blacksheep balance. Supports AUD, USD, USDC, and USDT with cross-currency conversions in a single transaction, with recipients able to receive funds via Australian or US bank accounts or self-custody wallets without needing a Blacksheep account.
• Blacksheep API API product enabling programmatic access to Blacksheep's payment and exchange services, with terms permitting automated use of the platform via the API. Supports business customers and partners seeking to integrate stablecoin payment capabilities into their own systems.

Quantifiable outcome

• AUD $20 million+ in payment volume processed since launch
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Scale indicators4 records

Recent moves5 records

Expansion highlights7 records

Direct peers

• CoinSpot: Australia's largest retail crypto exchange, AUSTRAC-registered. Targets a similar Australian customer base and offers AUD on/offramp functionality; less self-custody focused than Blacksheep.
• MoonPay: Global on/offramp provider that converts fiat to crypto and delivers directly to self-custody wallets. Closest direct competitor to Blacksheep's core on/offramp business model, with established banking-rail integrations across 160+ countries.
• Transak: On/offramp infrastructure provider enabling fiat-to-crypto purchases into self-custody wallets. Comparable product architecture and target customer base (Web3 wallets and applications).
• Independent Reserve: Australian-regulated crypto exchange with institutional-grade AUD rails and SMSF support. Overlaps with Blacksheep's SMSF and business segments.
• Banxa: Publicly listed on/offramp provider offering local payment rails and crypto delivery to self-custody wallets. Similar regulatory-first approach and multi-jurisdiction footprint to Blacksheep.
• CoinJar: Long-standing Australian crypto exchange and AUSTRAC-registered DCE. Competes for the same Australian individual and business on/offramp demand, with established banking relationships.
• Swyftx: Major Australian crypto exchange with AUD deposit/withdrawal rails. Direct competitor for Blacksheep's individual on/offramp segment, though operates a custodial model.

Broad incumbents

• Circle: USDC issuer and operator of stablecoin payment rails including Cross-Border Transfer Network. Represents the most strategic upstream/downstream threat to Blacksheep's stablecoin payment model.

Emerging players

• Onramper: Aggregator of on/offramp providers, allowing wallets and apps to embed fiat-to-crypto purchases. Adjacent infrastructure layer that could route demand away from or toward Blacksheep.

Regional players

• Easy Crypto: New Zealand-founded crypto exchange with Australian expansion. Comparable regulatory posture (NZ FSP) and APAC remittance focus, though predominantly custodial.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/blacksheep-money

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 Blacksheep