Choosing the right infrastructure for sending stablecoin payouts is about selecting a provider that covers your corridors, holds the necessary licenses, and charges fees that do not eat into thin margins. The market has matured quickly from niche on-ramp services offering full payout rails with local fiat settlement, multi-chain support, and compliance tooling built in.
This guide compares five major players: NOWPayments, Bridge, BVNK, Conduit, and zerohash. Each section covers what the platform does best, where it falls short, and the fee structure based on publicly available information. If you are evaluating multiple options, this comparison of stablecoin payout providers bridge bvnk conduit will help you narrow the field before requesting quotes.
NOWPayments
NOWPayments operates as a crypto payment processor and payout platform focused on simplicity and broad asset coverage. Unlike enterprise-grade rails built for high-volume treasury operations, it targets businesses that need to accept crypto payments and distribute payouts without managing custody infrastructure themselves.
The platform supports over 350 cryptocurrencies and offers mass payouts through API, CSV upload, or dashboard interface. Their ChangeNOW Pro integration enables email-based payouts with zero network fees. Standard service fees sit at 1% for mono-currency payments and 1.5% for conversions. Eligible partners can negotiate rates down to 0.3%. Mass payouts carry a 0% service fee — only the underlying blockchain network cost applies.
Best for: Small to mid-market businesses, content platforms, freelance marketplaces, and anyone needing quick integration with minimal compliance overhead.
Limitations: No published enterprise licensing for fiat holding. Not designed for companies processing millions in monthly volume requiring dedicated liquidity management or MiCA-compliant EMT operations. Geographic restrictions apply in certain jurisdictions including the EU, UK, US, UAE, and Russia.
Bridge (Stripe)
Bridge was acquired by Stripe in February 2025 for approximately $1.1 billion. The platform provides four core APIs: Wallets, Orchestration, Issuance, and Transfer. It supports USDC, USDT, PYUSD, and USDB across ten blockchains including Ethereum, Solana, Base, Stellar, and Polygon.
Fiat settlement happens through established domestic rails — ACH and FedNow in the US, SEPA in Europe, Pix in Brazil, SPEI in Mexico. Bridge holds a US money transmitter license (NMLS 2450917) and an EEA license from Luxembourg’s CSSF, enabling payouts across all 27 EU member states. They offer branded stablecoin issuance through Open Issuance, which Deel used to launch their DLUSD token.
Pricing is not publicly listed. Industry reports suggest costs around 10 basis points per stablecoin transaction plus network fees, but actual pricing requires contacting sales. Fiat settlement adds rail-specific costs on top of the base rate.
Best for: Companies already embedded in the Stripe ecosystem, global payroll distribution, and businesses needing both crypto and traditional fiat rails under one integration.
Limitations: End recipients must accept Bridge’s infrastructure. Pricing transparency is limited until engaging with sales. Smaller businesses may find the Stripe relationship overkill compared to lighter-weight alternatives.
BVNK
BVNK is owned by Mastercard and operates with over 40 licenses worldwide, including UK and Malta EMI licenses, US money transmitter licenses, and MiCA-compliant status in the EU. This regulatory depth allows BVNK to hold customer fiat balances and issue compliant stablecoin payouts directly within Europe without separate partnering arrangements.
The platform supports USDC, USDT, EURC, and PYUSD on six chains. Payouts reach 130+ countries with balances settleable in USD, EUR, and GBP. BVNK’s key differentiator is its no-pre-funding model — you fund in fiat and BVNK converts just-in-time to stablecoin for the final payout. This eliminates the operational complexity of managing digital asset reserves.
BVNK publishes a commercial floor of $500,000 monthly processed payments and requires six months of trading history. Pricing is tiered by volume, ranging from 10 to 100 basis points depending on scale. Exact rates require an enterprise contract.
Best for: Mid-market to enterprise companies needing MiCA compliance from day one, European businesses issuing stablecoin disbursements, and organizations wanting to avoid holding crypto on their balance sheets.
Limitations: The $500,000 monthly minimum excludes smaller businesses. Chain support is narrower than some competitors, excluding Solana and Stellar.
Conduit
Conduit specializes in emerging market corridors where traditional banking infrastructure is slowest or most expensive. Real-time PIX payouts in Brazil, SPEI in Mexico, and direct integrations in Colombia, Argentina, Nigeria, Kenya, and South Africa make it the go-to option when recipient lists skew toward LATAM and Africa.
Conduit supports USDC, USDT, and USDH across Ethereum, Tron, and Polygon. Settlement reaches T+0 for Brazilian and Mexican fiat payouts, with T+1 elsewhere. The platform operates with FinCEN MSB registration in the US and FINTRAC MSB status in Canada, covering 100+ countries for business onboarding.
Pricing is tiered by volume but not publicly disclosed. Conduit offers a production sandbox trial without platform fees. Industry estimates place all-in costs around 10 basis points for standard flows, though this varies significantly by corridor and ticket size.
Best for: Companies distributing payments to LATAM, African, or other emerging markets where local fiat rails matter more than multi-chain flexibility.
Limitations: Limited chain support compared to Bridge or zerohash. No Solana or Stellar integration. KYC is handled through regional partners rather than a unified hosted flow.
zerohash
zerohash provides B2B2C embedded financial infrastructure with unusually broad asset support — over 100 cryptocurrencies across 15+ blockchains. They cover Ethereum, Solana, Tron, Stellar, Bitcoin mainnet, and Lightning Network. This breadth makes them unique among pure payout providers.
Regulatory coverage includes money transmitter licenses in 51 US jurisdictions, a New York BitLicense, and FINTRAC MSB registration. Payouts reach 200+ jurisdictions, and they offer stablecoin prefunding for Visa Direct integration, which opens card-based payout channels alongside direct wallet transfers.
zerohash charges per-deposit fees. General pricing requires speaking with sales. The provider’s fee disclosure page outlines the structure but leaves specific rates to individual negotiations.
Best for: Platforms that need maximum asset diversity, B2B2C models routing payouts through end-user wallets, and companies wanting Bitcoin and Lightning Network access alongside stablecoins.
Limitations: Higher complexity due to broader asset scope. Enterprise-focused pricing means smaller players may not get favorable terms. Fiat rail coverage is strong but less deep in specific emerging markets compared to Conduit.
Fee Comparison Summary
| Provider | Published Fees | Volume Minimum | Best Corridor | Licensing Strength |
|---|---|---|---|---|
| NOWPayments | 1% deposits, 0% payout fees | None listed | Global small-ticket | Light |
| Bridge (Stripe) | ~10 bps + network | Contact sales | Multi-region payroll | Strong (US + EEA) |
| BVNK | 10 – 100 bps tiered | $500K/month | EU/MiCA payouts | Very strong (40+ licenses) |
| Conduit | Tiered by volume | Contact sales | LATAM & Africa | Moderate (MSB) |
| zerohash | ~0.30% per deposit | Contact sales | Multi-asset B2B2C | Strong (BitLicense + 51 MTLs) |
How to Evaluate and Choose
Comparing True All-In Costs
Fee structures across these providers are opaque by design. Almost none publish public rate cards. The practical approach is to request worked quotes on your specific corridors using identical transaction parameters: same amount, same currency pair, same destination country, same monthly volume. Ask each provider to separate every cost layer — base conversion rate, spread, provider fee, rail fee, and gas. A low headline percentage can hide a wide exchange spread that costs more at scale.
Settlement speed matters as much as price. A provider offering 10 basis points with T+2 fiat settlement may be more expensive overall than one charging 20 basis points with same-day PIX or FedNow delivery, because capital efficiency affects your real cost. Test timing on live transactions before committing volume.
Matching Licenses to Markets
Licensing determines which markets you can serve legally. If you operate in the EU and need MiCA-compliant EMT payouts, BVNK delivers that out of the box. If you need US money transmitter coverage across all 50 states, zerohash and Bridge both qualify. NOWPayments handles lightweight compliance for smaller operations but does not hold fiat-holding licenses.
For most businesses, the decision comes down to three factors: corridor coverage, volume tier, and existing infrastructure relationships. If you already use Stripe, Bridge integration is frictionless. If your payouts target LATAM, Conduit’s local rails justify the trade-offs. If you need maximum asset variety, zerohash stands alone. For simpler use cases with transparent per-transaction pricing and broad coin support, NOWPayments remains a practical starting point.