TerraPay and PalWallet have partnered on cross-border payments and stablecoin settlement, targeting businesses that need to move money internationally.
The two will combine PalWallet's fiat and digital asset settlement infrastructure with TerraPay's cross-border payments network. The arrangement is designed to give payment service providers, fintechs, merchants, remittance platforms, exchanges and large companies faster settlement, broader payout reach and access to local payment rails through a single connection.
The agreement comes as cross-border payments continue to grow. Industry projections cited by the companies value the market at more than USD $320 trillion by 2032, driven by digital commerce, online marketplaces and demand for real-time payments.
Stablecoins are also taking a larger role in global settlement flows. According to the companies, the market now exceeds USD $240 billion in circulation as businesses look for settlement models that complement traditional financial systems.
For payment firms and international businesses, the challenge has shifted from simply sending money across borders to settling funds quickly, connecting to local bank accounts and wallets, and meeting transparency and compliance requirements in multiple markets.
Under the partnership, PalWallet plans to expand its payout reach and add more local payout methods in both emerging and developed markets. The arrangement is also expected to strengthen treasury and remittance corridors.
TerraPay operates a cross-border network connecting bank accounts, mobile wallets and cards across multiple countries. Its infrastructure reaches more than 7.5 billion bank accounts in 156 countries and supports payments to and from 3.7 billion wallets through its interoperability network, Xend.
PalWallet provides infrastructure for stablecoin settlement, embedded finance, multi-currency accounts and payment orchestration. Its customers include payment service providers, fintechs, exchanges, remittance platforms, merchants, and digital platforms that handle international transactions.
For TerraPay, the agreement supports its strategy of providing payment connectivity to fintechs, wallets and financial platforms operating across regulated markets. For PalWallet, it broadens access to international payout networks and local payment methods through a single connection.
"Partnering with TerraPay marks an important step in expanding PalWallet's global payout capabilities. By combining TerraPay's established global payment network with PalWallet's settlement infrastructure, we are helping businesses move value across borders with greater speed, efficiency and operational flexibility," Thomas O'Leary, Chief Marketing Officer at PalWallet, said.
"Businesses today need payment infrastructure that is global, compliant and built for real-time money movement. By partnering with PalWallet, we are enabling a broader range of fintechs and digital platforms to access local payout methods and scale internationally through a single connection," Valli Ardalan, Senior Vice President, UK & Europe at TerraPay, said.
The partnership reflects broader changes in international payments as providers work to link conventional banking rails with digital settlement networks. That shift is being driven by demand for faster settlement, wider international coverage and simpler access to local payout options.
TerraPay continues to position itself as an infrastructure provider for fintechs, wallets and financial platforms seeking international payment connectivity across regulated markets.