Plexo

25 licensed financial institutions join Plexo's founding cohort. Connectivity in cross-border stablecoin payments is solved. Everything between the institutions moving that money is not: no directory of counterparties, compliance documents still sent by hand, and liquidity that does not cross issuers or chains. Plexo's founding cohort is building the layer that closes all three. _____ Plexo, the coordination network for institutional stablecoin clearing, today announced that Hercle, Tradevu, Echo Money, Kii Global, Zynta, Zuba and Schuman Financial have joined its founding cohort alongside 18 additional licensed financial institutions. Together, the 25-member group spans on-ramp and off-ramp providers, payment aggregators and remittance companies across 75 markets in Africa, Latin America, Asia and Europe. Cross-border stablecoin volume has grown fastest in the corridors correspondent banking retreated from, and hundreds of licensed on-ramp and off-ramp providers now serve them. Connectivity is not the bottleneck. What is missing is everything between those providers, and it divides into three layers. There is no directory where a licensed institution can find a qualified counterparty in a given corridor. Compliance documents still move between payment and crypto-asset service providers by hand, over WhatsApp, email and shared drives, while the documentation supervisors expect keeps growing. And liquidity does not cross issuers or chains, so USDC and USDT, Tron and Polygon, remain separate worlds. The result is a market shaped like banking before 1973: a skyline of well-built institutions with no roads between them. Opening one corridor takes three to six months, and the second costs as much as the first. Plexo builds the roads. Members complete one compliance profile, covering licences, incorporation documents and beneficial ownership, and reuse it with every counterparty instead of assembling it again. Each side reviews the other before any funds move. Settlement happens directly between the two institutions, in whichever stablecoin and on whichever chain they already use, and every transaction closes with a shared evidence bundle that meets Travel Rule obligations and is available to both sides.