Modern Treasury launches non-custodial stablecoin wallets

Modern Treasury has launched non-custodial stablecoin wallets, now available through an early access programme for selected customers and use cases.

The wallets give startups, platforms and their users direct control over on-chain assets, extending Modern Treasury's existing custodial wallet offering. Customers can build embedded wallet experiences inside their own workflows while using the same application programming interface for money movement, compliance, ledgering and rewards.

The launch adds a non-custodial option to a broader platform that also includes Global USD Accounts and payment orchestration. Through a single integration, customers can manage flows between stablecoins and US dollars across ACH debits, ACH credits, cheques, wires, RTP, FedNow and push-to-card.

Support at launch includes USDG, USDC and USDT. The wallets can be offered to users in the US and more than 90 countries, and can be combined with custodial wallets for company operations through partner Paxos while end users hold self-custodied wallets.

Modern Treasury is also working with Turnkey on the underlying infrastructure. Because Turnkey's technology is integrated into the platform, customers do not need to build or manage a separate connection to use the service.

Modern Treasury framed the launch around growing use of stablecoins to move and store value across borders. By putting stablecoin wallets, dollar accounts, and payment orchestration in one system, it aims to appeal to startups and platforms that want to handle both conventional payment rails and blockchain-based transfers without stitching together separate providers.

Use cases

Modern Treasury outlined a range of intended uses for the wallets, including cross-border settlement, liquidity management, dollar-denominated balances, global payroll, marketplace payments, and links to decentralised finance protocols and other software-based financial systems.

For cross-border payments, firms can move customer funds from fiat into stablecoins, settle through connected wallets and rails, and then convert into local currencies for final payout. For liquidity management, payment providers and platforms can use stablecoins to reduce pre-funding needs across payment corridors.

Another target market is users in countries with volatile currencies who want to hold dollar-linked balances. Platforms can offer individuals and businesses stablecoin balances denominated in dollars to send, receive and store value in USDG, USDC or USDT, alongside fiat accounts where relevant.

Funds held in fiat through Global USD Accounts may qualify for FDIC pass-through insurance through Modern Treasury's banking partners. This positions the product as a hybrid setup for businesses that want to give users both conventional dollar balances and access to stablecoins within the same system.

Customer example

One customer cited is Morse, which uses the platform for services tied to cross-border financial activity.

"At Morse, we're building for people whose financial lives span countries, currencies and banking systems," said Hudack, Co-Founder and CEO of Morse. "Modern Treasury's wallets support an instant and seamless experience to connect our users to the US financial system."

The launch also reflects wider competition among financial infrastructure providers to build tools around stablecoins without forcing businesses to choose between blockchain networks and banking rails. Rather than offering a stand-alone crypto wallet product, Modern Treasury is integrating non-custodial wallets into its existing payments and ledgering stack.

That could matter for platforms that need records for both fiat and digital assets in one place, particularly when managing payouts, treasury operations or user balances across multiple jurisdictions. Modern Treasury says its platform has moved more than $600 billion in payments.

Roadmap

The new wallets also advance Modern Treasury's plan to add more blockchain integrations and support for additional stablecoins. This suggests the company wants the wallet infrastructure to serve as a base layer for further expansion as demand shifts across networks and tokens.

Matt Marcus, Co-Founder and CEO of Modern Treasury, said the addition gives customers more flexibility in how they design payment products for their own operations and for end users.

"Non-custodial wallets extend what our stablecoin wallets and orchestration can already do, giving customers even more flexibility in how they build payment experiences - for their own operations, or for the customers they serve, all through one unified platform. It also accelerates our ability to add new stablecoins and blockchains faster, so our customers can adapt as the market evolves," Marcus said.