Diameter Pay raises $10 million to expand stablecoin payment infrastructure

Fintech startup Diameter Pay has announced the completion of a $10 million funding round, marking a significant step in its journey to build stablecoin payment infrastructure for global enterprises.

Strategic funding round

The $10 million round was led by venture capital funds specializing in fintech and blockchain. The capital will be used to:

• Expand network to support additional stablecoins (USDC, USDT, DAI, PYUSD)
• Develop APIs enabling businesses to integrate stablecoin payments into existing systems
• Build partnerships with traditional banks and financial institutions
• Recruit talent for technical and business development teams

Stablecoins in B2B payments — why now?

Stablecoins — cryptocurrencies pegged to the USD or other stable assets — have moved beyond the “experimental” phase into “production.” The reasons:

90% lower costs: An international wire transfer via SWIFT costs $25-50 in fees plus 2-5 days of waiting. Stablecoins complete in seconds for under $1 in fees.

24/7 payments: No dependency on banking hours, unaffected by holidays or time zones.

Complete transparency: Every transaction is recorded on the blockchain, verifiable by anyone.

No bank account needed: Businesses in emerging markets — where banking access is limited — can send and receive international payments with just a digital wallet.

Diameter Pay’s operating model

Diameter Pay doesn’t issue its own stablecoin but serves as a “middleware layer” connecting businesses with the existing stablecoin ecosystem:

1. Business sends fiat (USD, EUR, VND…) to their Diameter Pay account
2. System automatically converts to stablecoin (USDC/USDT) on the blockchain
3. Payment is sent to partner/supplier via blockchain
4. Recipient converts to local fiat or holds the stablecoin

The entire process takes minutes, compared to 3-5 days for traditional bank transfers.

Impact on the Vietnamese market

Vietnam is one of the world’s largest remittance recipients — over $19 billion annually. Stablecoins could revolutionize this flow:

• Cheaper remittances: Transfer fees from the US/Japan to Vietnam via stablecoin could drop from 5-7% to under 1%
• Export businesses receive payments faster, improving cash flow
• Vietnamese freelancers working for international clients receive money instantly, no SWIFT waiting

However, Vietnam’s regulatory framework for stablecoins remains unclear. The State Bank of Vietnam has not licensed any stablecoin issuers, and using cryptocurrency as a payment method remains prohibited.

Competitive landscape

Diameter Pay is not alone. The stablecoin payment infrastructure market is heating up with numerous competitors:

• Circle (USDC issuer) is building a programmable payments platform
• Stripe integrates USDC for merchants via Bridge
• PayPal launched PYUSD and is expanding to international payments
• Visa is testing stablecoin payments on Solana

With $10 million in new funding, Diameter Pay will need to prove its competitiveness in a market where traditional fintech giants are pouring billions of dollars.

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Source: Diameter Pay raises $10 million to expand stablecoin payments infrastructure — PYMNTS, September 2026