Stablecoins are settling trillions of dollars a year on crypto rails. But inside regulated U.S. payments infrastructure, they are still a single-digit slice of volume.
David Simon, president of Reliant, joined TheStreet Roundtable to give a clear picture of what that adoption curve looks like from inside a compliant operator.
Reliant is a third-party payment processor with more than 15 years in the consumer and business debt settlement space, processing billions of dollars in regulated transactions.
A compliance-first approach
Reliant launched its RAMFi infrastructure platform in October 2025, built to unify fiat and digital asset movement under a single regulated framework.
Launch partners include BitGo for qualified institutional custody, CoinX, and Strategic Claims. The use cases target fintechs, digital asset exchanges, class action administrators, and other disbursement-heavy operators.
The company is backed by private equity, which Simon says shapes how it weighs growth against profitability.
The digital asset side is still small today, but Simon expects steady growth.
“Over 95% of our business still is fiat. We just launched with three to four partners that are signed, and most of them are in tests and moving. I think in a year, we hope it’s going to be 90-10. And then in two years, we hope it’s 80-20.” said Simon.
Stablecoin volume across all networks now runs into the trillions of dollars annually, and recently even moved more value than legacy rails like ACH and Visa. But the share that touches regulated U.S. payments infrastructure is still a small slice.
The bigger question: where does the yield come from?
Simon said the volume conversation is the easy one. The hard question is which dollar pays Reliant the most when it moves.
“Volume is one measure, revenue is another, and profit is the third. The bigger question is, how is revenue going to be distributed? Where can we get the most yield?”
On the stablecoin side, the revenue stack includes “transaction fees, conversion fees, custody fees, and then ancillary fees that come through.”
Reliant’s existing debt settlement business carries “very high margins,” which Simon wants to defend as the mix shifts toward digital assets.
More from TheStreet Roundtable
- Treasury Secretary issues blunt warning on U.S. digital dollar
- UN veteran says stablecoins are fixing broken aid payments
- Cathie Wood sends strong message on Trump Accounts
The real use cases driving the shift
Two underappreciated use cases came up, and both are about moving large fiat sums where stablecoins could absorb the corridor.
Insurance claims and class action disbursements are already part of Reliant’s fiat business.
“We have another part of our business which is straight disbursements on fiat, which is insurance claims or class action lawsuits. Those volumes could be enormous.” said Reliant.
The newer one is cross-border real estate development funding. Simon said a client recently approached Reliant about using digital rails to bring overseas funds into a U.S. real estate development.
That is the kind of “constrained corridor” use case stablecoins are increasingly being deployed against.
Leave a Reply