Banking infrastructure for the autonomous economy: an US fintech bank release new products to help you build at the frontier of financial services
The FinTech bank is bringing stablecoins, card issuing, global banking, and multicurrency accounts into one infrastructure stack. The goal is pretty simple: instead of stitching together banks, processors and multiple vendors, FinTechs can build complex financial products through a single integration.
“We started Column with the insane idea to rebuild every component of the financial system from scratch, to enable any technology company to build and operate at the frontier. I think we have finally completed that build.” – said William Hockey, the CEO of Column, in a blog article.
Column is releasing four new products today to help you build at the frontier of financial services.
- Stablecoins: For the first time (and finally), USDC and USDT are completely interoperable — 24/7 and instant — with the U.S. dollar and every underlying U.S. and international payment rail. This capability is built natively into Column, with no middlemen.
- Full-stack card issuing: Column has issued cards and sponsored some of the largest programs in the country for years. The company now builts its own issuer processor from the ground up, so it can launch and run a card program — bank, processing, and capital — with one integration. “Mastercard and Visa, across debit, credit, stablecoin-backed, and every other card manifestation you can think of.”
- Global banking: “We’ve heard you want to offer Column accounts to anyone in the world, not just here in the U.S. You can now issue U.S. dollar (or local currency) accounts and cards to verified customers globally, on the same infrastructure and compliance tooling you use domestically.”
- Multicurrency accounts and local payouts: Receive, hold, and send foreign currencies in individually numbered accounts, with instant conversion to and from U.S. dollars, and connections to international instant payment systems like SEPA Instant.
These new products were built on Column own financial primitives and are “a step change in capability for anyone building in financial services. Instead of stitching together banks, orchestrators, issuer processors, and a dozen other vendors, you now only need one bank — Column — to build any financial product at the frontier.” – William said.
He continued: “I’m most excited about how each of these products thoughtfully works with every other product at Column. Having the entire financial system be truly instant and composable is something that we’ve all dreamed about for decades, and it feels like it’s finally here. Receiving USDC from Mongolia, converting it to U.S. dollars instantly, splitting it up, and sending half to a small community bank instantly over FedNow and the other half in euros over SWIFT — all with a couple API calls, in a matter of seconds — would have seemed like a pipe dream just 12 months ago. But you can do it today.”
“The technological frontier is moving insanely fast. Before Column, no bank could offer the products needed to build complex and novel flows of funds at scale. We are maniacally focused on building our products at the frontier, so you can build at the frontier. Every product is already moving billions of dollars at scale for some of the largest fintechs in the world, including Ramp, Brex, Bilt, Mercury, Slash, Kapital, and many more.“
