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Stablecoin payment & settlement infrastructure

The token is the easy part.

Non-profitPro bonoEstonia

INFTF, the Inclusive Financial Technology Foundation, helps banks and payment providers assess and develop stablecoin-based settlement, contributing architecture, prototypes, integration support and the connections between institutions.

Talk to INFTFSee how the stack works
  1. EUR
  2. regulated digital money
  3. settlement
  4. domestic banking
  5. ETB
EUR → regulated digital money → settlement → domestic banking → ETB

Live since May 2026: blockchain-based settlement for euro remittances into Ethiopia, launched by TerraPay, Cooperative Bank of Oromia and Quantoz Payments and developed in collaboration with INFTF.

View projectExternal announcement ↗

In an institutional payment context, stablecoin settlement is the use of a regulated digital currency as the asset that moves between institutions to complete a payment, while customers, licensing, FX and domestic payout can remain in existing banking systems. The ledger records the transfer; it does not replace the institutions responsible for the money.

Explore stablecoin cross-border settlement.

The rest is the architecture.

A production payment flow also needs licensed institutions, regulated money, liquidity, identity and screening, custody and keys, settlement, reconciliation, FX and a working last mile.

  1. Institutional & regulatoryLicensed institutions and the regulatory perimeter around the flow.
  2. Money / issuerRegulated digital money and the institution that issues it.
  3. Funding & liquidityPrefunding, FX and the liquidity that lets value move.
  4. SettlementWhere value actually moves between institutions.
  5. Controls & reconciliationIdentity and screening, custody and keys, reconciliation.
  6. Local banking / payoutDomestic banking relationships and a working last mile.
Institutional & regulatory → Money / issuer → Funding & liquidity → Settlement → Controls & reconciliation → Local banking / payout

What can change

  • settlement rail
  • operating window
  • visibility and reconciliation model
  • capital/prefunding model where applicable
  • programmable policy

What does not disappear

  • licensed institutions
  • KYC/KYB and sanctions obligations
  • FX and liquidity
  • banking relationships
  • local payout
  • operational accountability

The ledger changes how value settles between institutions. The licensed institutions still own and operate the financial service; INFTF helps them design it and connects the parties it needs.

Corridor settlement

Cross-border settlementAssess how a different settlement rail could improve funding, operating windows and reconciliation.Explore Remittance infrastructureConnect institutional settlement to the bank or network that pays the recipient.Explore

Policy & controls

Stablecoin controlsDesign who may hold, receive and move regulated digital value – and where custom policy belongs.Explore Programmable paymentsPut bounded payment rules around the accounts participating in settlement.Explore

Start with the existing flow: identify the constraint, map the participants and assess whether a different settlement model could help.How we work

Live / May 2026 / Europe → Ethiopia

Euro remittance settlement. Live in Ethiopia.

Regulated euro e-money from Quantoz Payments settles on Xahau, linking TerraPay’s cross-border network to Cooperative Bank of Oromia’s domestic banking reach. Licensing, compliance and domestic banking remain within the existing regulated framework. INFTF and TerraPay worked with Ethiopian financial authorities on the regulatory and technical framework, and Ethiopia’s central bank has approved the settlement infrastructure for inward remittance flows, according to TerraPay’s announcement.

Explore the settlement modelTerraPay announcement ↗
  1. sending market
  2. TerraPay
  3. regulated EUR
  4. Xahau settlement
  5. Coopbank
  6. ETB payout

Technology / where it fits

Programmability where the money sits.

Xahau combines ledger-native financial primitives with programmable logic attached to accounts. Standard financial behaviour can remain native to the ledger, while institution-specific rules can evaluate transactions involving the account holding or moving value.

  • fixed protocol primitives
  • separate application contract
  • account-attached policy
Native financial primitives
Issued currencies, trust relationships, escrow, payment channels, exchange and account controls.
Account-level policy
Hooks execute on transactions affecting participating accounts.
Issuer controls
Authorisation, freeze/deep-freeze, clawback and opt-in issuer transaction hooks where applicable.
Native automation
Scheduled and conditional operations can support payment rules where the operating model requires them.
Why XahauTechnical documentation ↗

Current thinking

Have a payment flow worth rethinking?

Tell us what needs to work better: funding, settlement, controls or payout. A short introduction is enough.

Talk to INFTFSee how we work