Conduit
A fintech platform offering multi-currency virtual accounts and payment APIs
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About Conduit
Conduit is a payment-focused API platform that combines stablecoin settlement with traditional fiat rails. Its core business lets developers embed USD accounts, virtual accounts, and cross-border payouts into their products through a single integration, while automatically routing transactions across blockchains and local payment networks.
The main value proposition is orchestration: instead of forcing developers to choose between Circle's CCTP, LayerZero, or DEX aggregators, Conduit abstracts away cross-chain complexity. A user can deposit USDC on Ethereum and receive it on Solana or Base without touching bridge contracts or managing gas fees. On top of that, it adds fiat on/off ramps in 14 currencies and regulatory coverage across multiple jurisdictions, making it practical for payroll, merchant settlements, and treasury operations.
The pain point Conduit addresses is the fragmentation of stablecoin infrastructure. Developers previously had to integrate multiple protocols, maintain gas logic per chain, and separately handle FX and local compliance. Conduit collapses this into one API call, with compliance routing and KYB/AML handled by default.
In the past six months (March to September 2026), the most significant development is competitive pressure from Circle's USDC Bridge, launched in April 2026. Circle's consumer-facing bridge directly competes with Conduit's cross-chain USDC flows, and CCTP V1 is scheduled to shut down on July 31, 2026, forcing developers to reassess their bridging stacks. While Conduit's differentiation lies in its fiat layer and multi-currency support, the market is watching whether independent USDC orchestration can sustain its economics against Circle's vertical integration.
Conduit was founded in 2021 by Kirill Gertman and Michael Gregson as a "Stripe for DeFi," offering APIs that let banks and fintechs plug into DeFi yield products such as Compound and AAVE. In January 2022, it raised a $17M seed round led by Portage Ventures (, ). In August 2023, it strategically pivoted to B2B cross-border payments amid crypto market volatility. After a $6.5M investment from Helios Digital Ventures in August 2024 for Africa expansion, transaction volume grew 16x in 2024, surpassing $10B in annualized payment volume; a $36M Series A followed in May 2025 (). These milestones show its evolution from DeFi middleware into a stablecoin/cross-border payment orchestration player ().
Key progress (Mar–Sep 2026):
Mar 2026: Strategic partnership with Yuno, embedding stablecoin payments into 190+ country merchant networks via one API; 15–20 min cross-border settlement, virtual USD/EUR/GBP accounts, and payments in merchants' own name.
Jun 2026: Launched "Promptable Money Movement" — infrastructure rebuilt for AI-first developers, unifying fiat and stablecoins on one API with built-in compliance and multi-bank routing; customer accounts provisioned in seconds.
Scale: $10B+ annualized transaction volume, 5,000 merchants across 9 countries, nearly 30 banking partnerships spanning LatAm, Africa, Asia.
Network expansion: Added HKD/SGD payout rails and international_wire rail (auto-selects SWIFT/FEDWIRE); supports Fednow, Fedwire, SWIFT, SPEI, PIX, SEPA.
Positioning: Stablecoin orchestration layer for cross-chain payouts/payroll/merchant settlement — deposit USDC on Ethereum, receive on Solana/Base/Arbitrum/Polygon.
Future: CEO Kirill Gertman says winners will remove friction, embedding stablecoin benefits into existing infrastructure; roadmap centers on one API for cross-chain + multi-currency settlement, deep compliance routing, and AI-native developer experience.
Co-founder & CEO Kirill Gertman: former Head of Product at Eco, VP at BRD (acquired by Coinbase), VP Digital Product at Eastern Bank; founded Conduit in 2021.
Co-founder Michael Gregson: limited public info.
Chief Legal & Compliance Officer Mark Graves: board member.
Chief Operating Officer Andre Masse.
Chief Banking Officer Jeremy Berger.