Stablecoin settlement layer for a card-accepting payment platform
A hybrid design that lets merchants accept cards as usual while optionally settling in stablecoins.
This is a reference architecture describing how Shivacha approaches this class of system. It does not describe a specific client engagement and contains no client names or results.
Challenge
Merchants selling internationally want faster settlement and dollar-denominated balances, but the payment platform's ledger, risk and reporting are built only for fiat.
Context
Relevant to PSPs, marketplaces and payment platforms adding digital asset rails alongside traditional acceptance.
Approach
How we approach it
- 1
Extend, don't fork, the ledger
Add digital asset accounts to the existing double-entry ledger.
- 2
Settlement preference per merchant
Fiat, stablecoin or split settlement configured per merchant.
- 3
Partner-led conversion
Licensed partners handle fiat-to-stablecoin conversion and custody.
- 4
Unified risk
Wallet screening added to the existing merchant risk model.
Architecture
System design
Technology
Implementation
Key implementation elements
Settlement calculation
Net positions in the ledger, executed per merchant preference.
On-chain execution
Policy-controlled transfers via custody provider APIs.
Reconciliation
Card settlements, conversions and on-chain transfers matched daily.
Merchant statements
One statement across fiat and stablecoin settlement.
Outcome
The design goal is choice without fragmentation: merchants gain a new settlement option while the platform keeps one ledger, one risk model and one reporting surface.
Lessons
- Treating a stablecoin as another currency in the ledger avoids a parallel system.
- Conversion timing and price exposure must be explicit in settlement rules.
- Merchants value one statement more than rail-level detail.
Services
Services involved
Hybrid Payment Platform
Accept cards, bank transfers and stablecoins; settle in fiat or digital assets — one payment platform across rails.
Learn moreBlockchain Payment Settlement
Use blockchain for payment settlement between entities, partners and merchants — faster, transparent and reconcilable.
Learn moreStablecoin Settlement
Use stablecoins for settlement between businesses, partners and entities — faster, programmable and reconcilable.
Learn moreMore work
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