Thunes and Coinbase have partnered to link Coinbase’s stablecoin infrastructure with Thunes’ global fiat payout network.
The agreement sets up a two-way arrangement between the companies. Coinbase will integrate Thunes’ Direct Global Network to extend its fiat payout reach, while Coinbase’s suite of stablecoin products will underpin Thunes’ stablecoin infrastructure. The companies describe the collaboration as a way to support the use of stablecoins in practical payment flows, covering enterprise supplier payments, payouts to gig workers, and international remittances.
How the integration works
Through the integration, Coinbase gains direct payout access to local clearing systems and alternative payment methods. Thunes will provide real-time, last-mile delivery to mobile wallets and bank accounts, allowing Coinbase customers to send funds to more countries and in more currencies. According to the announcement, this coverage extends to regions considered hard to reach because of limited banking infrastructure.
In the other direction, Coinbase will supply the stablecoin layer for Thunes, enabling the Singapore-based company to integrate stablecoins more deeply across its network. The companies said this infrastructure is intended to support Thunes’ expansion within the digital asset ecosystem.
Network scale and capabilities
Thunes’ Direct Global Network allows its Members to make real-time payments in over 140 countries and more than 90 currencies. The network connects directly to over 12 billion mobile wallets, stablecoin wallets, and bank accounts, as well as 15 billion cards, through more than 220 payment methods. Thunes also operates an in-house treasury system, SmartX, and a compliance platform, Fortress.
Coinbase operates a platform through which individuals and institutions can trade, stake, store, and spend crypto assets and make global transfers. It also provides infrastructure for onchain activity.
Connecting digital assets to local payment systems
Commenting on the partnership, Chloé Mayenobe, Deputy CEO at Thunes, said that although digital assets have become a core part of the financial ecosystem, their real-world utility still depends on connections to fiat and domestic financial systems. She described Thunes as a bridge between traditional finance, mobile wallets, and digital assets, adding that the partnership would enable fully compliant cross-border payouts globally.
Alec Lovett, Head of Infrastructure Products at Coinbase, identified last-mile connectivity as a key element in realising the potential of stablecoins. He noted that working with Thunes allows Coinbase to offer an end-to-end payment experience with faster payouts across more countries and currencies.
The arrangement pairs a crypto platform’s stablecoin capabilities with a fiat network’s local payout connectivity. Both companies present this combination as necessary for stablecoins to function in everyday cross-border payments, particularly in markets where access to conventional banking remains limited.
