Lightspark Announces Global Grid Accounts For Stablecoins

The goal is to merge the complexity of traditional payment rails with onchain transfers, creating a universal money account as infrastructure that currently spans over 65 countries for payouts.

Depending on the country, current list of payment rails covered in the Lighspark docs includes SEPA/Instant, Bank Transfer, PIX, UPI, PayNow, ACH, Wire Transfer, RTP, and FedNow.

The company has partnered with Spark self-custody wallet for users to hold Bitcoin for rewards and manage stablecoin balances.

Stablecoins like USDB (only mention of USD-backed stablecoins for now) issued by white-label stablecoin issuer Brale can be supported. Brale raised $30M to scale its operations last September.

Also, there appears to be a number of options when it comes to depositing and withdrawing balances, including from/to traditional bank accounts and stablecoin wallets. This can be completed by using JIT (Just-In-Time) quote instructions and pre-funding options.