Welcome to Paycrest
Paycrest is a decentralized payment routing protocol for stablecoin-fiat payments in emerging markets. It routes bidirectional conversion orders between stablecoins and local currencies through a distributed network of liquidity providers, with on-chain escrow that settles orders automatically without Paycrest ever holding user funds. Paycrest is built for wallets, fintechs, exchanges, DeFi protocols, and platforms that need to move stablecoins into and out of local fiat accounts in high-friction markets. If you’re building a product that touches cross-border payments, remittances, payroll, or stablecoin on-ramps and off-ramps, Paycrest is the routing layer.The Problem
Cross-border payments, especially in Africa and other emerging markets, remain globally expensive, slow, and fragmented. Sending $200 to Sub-Saharan Africa costs an average of 7.9% in fees, according to the World Bank's [Migration and Development Brief 40](https://www.worldbank.org/en/news/press-release/2024/06/26/remittances-slowed-in-2023-expected-to-grow-faster-in-2024). For the $54 billion in remittances that flowed into the region in 2023, a large share of that value is lost to intermediaries. Stablecoins have emerged as the most viable alternative: they move in minutes, cost fractions of a cent on modern L2 chains, and are already seeing massive organic adoption. But there is a critical gap: the last mile. Converting between stablecoins and local currency remains fragmented and increasingly contested by platform-specific networks tied to individual stablecoin issuers, each building a walled garden around their own token. There is no neutral, open, protocol-level routing layer for stablecoin-fiat conversion. Paycrest is building that layer: issuer-agnostic by design, with no preference for one stablecoin or issuer over another.How It Works
1
Create Order
A sender (or an app on their behalf) initiates a payment order through the Gateway Smart Contract, which locks stablecoins in escrow. No funds are held by Paycrest.
2
Route
The aggregator indexes the order and routes it to the most suitable liquidity provider based on rate, availability, and corridor.
3
Fulfill
The provider’s automated provision node disburses fiat to the recipient’s bank account or mobile wallet via a local PSP.
4
Complete
Once payout is verified, the escrowed stablecoins are released to the provider on-chain. If the order can’t be fulfilled, the sender is automatically refunded.
The on-ramp flow runs the other way: a user deposits fiat with a provider, and the protocol delivers stablecoins to their wallet.
What is Paycrest?
Paycrest is not a payment app. It is infrastructure: an open payment routing protocol that any application can integrate to offer stablecoin on-ramps and off-ramps to its users. It is also not a P2P consumer product, not a card-issuing solution, and not suitable for anonymous flows. All senders and providers are KYB-verified. The protocol handles the full stack:- Order routing: matching senders with the right provider for each corridor and rate
- Encrypted message passing: recipient bank/wallet details transmitted securely
- On-chain escrow: neither party needs to trust the other; the contract enforces completion
- Compliance coordination: providers own local regulatory obligations, senders own theirs
Non-Custodial
Paycrest never holds user funds. Escrow is on-chain; provider fiat is provider-controlled.
Open & Composable
Any smart contract can trigger settlement. Any app can integrate the Sender API.
Provider-Sovereign
Liquidity providers run their own provision nodes, set their own rates, and connect their own PSPs.
Simple Pricing
Senders pay the rate quoted live by the Paycrest Sender API, plus the transaction fee and any sender fee they set.
Key Participants
Sender
KYB-verified businesses (wallets, fintechs, DeFi protocols) that initiate payment orders via the Sender API or Gateway contract.
Recipient
The beneficiary who receives local fiat or stablecoins without interacting with the protocol directly.
Provider
KYB-verified participants that supply fiat and stablecoin liquidity in both directions, running automated provision nodes.
Aggregator
The Paycrest Aggregator matches orders with suitable providers, coordinates fulfillment and manages settlement.
Get Started
For Senders
Learn how to create payment orders with the Paycrest Sender API. The Sender API v2 supports both off-ramp (stablecoin → fiat) and on-ramp (fiat → stablecoin).
Become a provider
Complete KYB, set up a provision node and serve on-ramp and off-ramp order flow from integrated senders.
Supported Corridors
Paycrest is live across 4 active corridors with real provider liquidity. New corridors launch only when committed providers are onboarded and tested.African Markets
- NGN 🇳🇬: Nigerian Naira
- KES 🇰🇪: Kenyan Shilling
- UGX 🇺🇬: Ugandan Shilling
- TZS 🇹🇿: Tanzanian Shilling
Supported Stablecoins
Stablecoins
- USDT: Tether USDt (multi-chain)
- USDC: USD Coin (multi-chain)
- cNGN: Compliant Naira (multi-chain)
Networks
- Ethereum, Base, Arbitrum One
- Polygon, BNB Smart Chain
- Celo, Starknet, Tron, Solana
For the complete token list with contract addresses, see Supported Stablecoins or use the GET /tokens endpoint.
Security & Compliance
KYB-gated participation
Every sender and provider business is verified before going live.
Smart Contract Security
Non-custodial on-chain escrow. Funds are never held by Paycrest.
Compliance at the Edges
Providers own their local regulatory obligations; senders own theirs, including customer KYC. Paycrest verifies every business before it goes live and screens orders for sanctions risk.
Built-in Sender Monetization
Senders can add their own fee on top of the quoted rate, settled on-chain in the same transaction as the order.
Where We’re Headed
Paycrest is focused on one thing: making stablecoin-fiat routing in emerging markets reliable enough to be trusted infrastructure. We want Paycrest to become the default routing path for stablecoin-fiat payments because it is the most reliable, not because anyone is locked in. Every new provider makes the corridors it serves more robust.Decentralization Path
Today the Paycrest Aggregator, operated by Paycrest, is the neutral middle between senders and independent verified providers. It is non-custodial and works in both directions, on-ramp and off-ramp. The protocol is designed so that multiple independent aggregators can run on it in the future. Starting with one is deliberate: the network proves itself in production before control is distributed. The protocol is designed to evolve in three phases.Phase 1: Federated Foundation (Current)
Phase 1: Federated Foundation (Current)
How it works today: The Paycrest Aggregator routes each order to a provider, confirms the payout and coordinates settlement. Every sender and provider is KYB-verified before going live.What this means for you: You integrate once and work with one accountable team. Funds sit in on-chain escrow, never with Paycrest.
Phase 2: Attested Settlement (Future)
Phase 2: Attested Settlement (Future)
What changes: Independent parties confirm each payout, so verification no longer rests with a single aggregator.What this means for you: Stronger guarantees for senders, because no single party decides whether a payout happened.
Phase 3: Permissionless Protocol (Future)
Phase 3: Permissionless Protocol (Future)
What changes: Multiple independent aggregators run on the protocol, and any provider that meets the compliance requirements can join without approval from Paycrest.What this means for you: The routing layer stays neutral. It has no stake in which stablecoin you use, which provider fills your order, or who runs the aggregator.What stays the same in every phase: non-custodial on-chain escrow, the Gateway contract’s guarantees, the Paycrest Sender API contract, and KYB verification at the compliance layer.