CASE STUDY
How WirexPay delivers frictionless multi-chain stablecoin banking with Rhino
WirexPay needed to accept stablecoin deposits from any chain and deliver them as usable balances inside their banking products: instantly, predictably, and without exposing users to bridges or chain complexity. Rhino made it possible.
65,000+
Users supported
Users given a single deposit address that works across 10+ chains, with zero infrastructure built in-house
WirexPay is the non-custodial infrastructure arm of Wirex, one of the longest standing digital payment platforms in the industry. They operate three core products: retail banking, business banking, and stablecoin banking-as-a-service, all built on Base.
Their mission is to make stablecoin complexity invisible. Users see fiat-denominated accounts in USD, EUR, and GBP. Under the hood, everything settles in USDC and EURC on-chain.
$850M
annualised deposit volume
20+
blockchain networks where users hold funds
WirexPay's products live on Base. Their users live everywhere else: Binance, Tron, Ethereum, Solana, and dozens of other chains.
For a product designed to feel like a bank account, the deposit experience was anything but. Users faced multiple deposit addresses, manual bridge steps, and confusion about which token to send and where. Failed deposits created support overhead. Successful ones still landed as raw tokens that needed further processing before they became usable balances.
Three problems made this especially painful.
Fragmented deposit UX. Presenting separate addresses for different tokens and chains created confusion. Users sent the wrong asset to the wrong address, triggering failures and refund workflows that consumed engineering and support time.
Stablecoin mismatch. WirexPay settles in USDC and EURC, but most of their users, particularly from Binance (~50% of volume) and Tron (~20%), hold USDT. Every deposit required a conversion, and the spread uncertainty at scale made settlement outcomes unpredictable.
Deposits weren't arriving ready to use. A standard bridge drops raw tokens on the destination chain. But WirexPay needed funds to arrive already activated inside their wallet system, credited to the user and ready to spend. Without that, every deposit required a second on-chain step, creating delays and manual intervention.
Building and operating this infrastructure internally, across 10+ chains with liquidity management, compliance screening, and failure handling, was not where WirexPay wanted to invest engineering time. They needed a partner.
WirexPay evaluated several cross-chain infrastructure providers. They chose Rhino for two capabilities no other provider could deliver together: Automated Onchain Actions that deliver funds directly into WirexPay's wallet system as usable balances, and 1:1 Stablecoin Swaps that eliminate spread uncertainty between USDT and USDC.
One deposit address, any chain.
Rhino's Smart Deposit Addresses give every WirexPay user a single address that accepts USDC, USDT, and EURC from any supported chain. Rhino detects the incoming token and applies different routing and actions depending on what's deposited, for example directing EURC into one yield product and USDT or USDC into another. The user just sends.
Automatic activation into WirexPay's yield vaults.
This is the critical difference. Rhino doesn't just move funds to Base. It completes the final on-chain steps automatically, depositing funds directly into WirexUSD or WirexEUR, custom yield vaults built on Morpho. Users start earning yield the moment their deposit lands. No second transaction. No manual processing. No delay between arrival and activation.
Predictable 1:1 stablecoin settlement.
WirexPay was an early design partner for Rhino's Stablecoin 1:1 feature. USDT and USDC are treated as interchangeable USD units with transparent basis-point pricing and no hidden spreads. For a business processing millions monthly, this removes the cumulative leakage that compounds from unpredictable conversion outcomes.
Built-in compliance across every chain.
Every inbound deposit is automatically screened with KYT and AML checks, giving WirexPay a single compliance layer across all chains and tokens without additional integration.
SOLUTION HIGHLIGHTS
One integration, 10+ chains.
A single API replaced the need to build deposit infrastructure across Ethereum, Binance, Tron, Solana, Polygon, Arbitrum, Optimism, and more.
Funds arrive activated and earning yield.
Deposits land directly in WirexPay's Morpho-based yield vaults, earning from the moment they arrive, not as raw tokens requiring further processing.
Predictable settlement at scale.
1:1 stablecoin swaps with transparent fees eliminate the ~5 bps monthly leakage that compounds across high-volume flows.
Collaborative safeguards.
Rhino and WirexPay designed per-account and global safety limits to protect 1:1 swaps against exploitation, without restricting legitimate usage.
Penny testing for trust.
Minimum deposit thresholds were reduced to $0.50 so users could verify the flow before moving large amounts. Essential for a banking product.
WirexPay's stablecoin deposit experience has transformed since going live with Rhino in late 2025.
8x deposit growth.
Monthly deposit volume has grown without any changes to WirexPay's own codebase. The deposit experience simply works, and users are responding.
118,000k+ successful transactions.
Almost ~$62m in stablecoin deposits have settled predictably into WirexPay's banking products across Binance, Tron, Ethereum, Solana, and more, with funds arriving activated and ready to spend every time.
New chains, zero development work.
When WirexPay's customers needed support for additional networks, like Tempo, Rhino enables them with no engineering effort on WirexPay's side. The team can expand chain coverage based on user demand rather than internal development capacity.
A foundation for what comes next.
The partnership began with WirexPay's business banking product. Based on the results, WirexPay is now exploring how to extend Rhino's infrastructure across its broader product suite, including core chains like Stellar where a significant portion of their existing user base already operates.
Rhino.fi is the infrastructure behind the Rhino Stablecoin Activation Stack, giving trading platforms, neobanks, and on-chain businesses
a single toolkit to accept, convert, and settle stablecoins predictably across 30+ blockchain networks.
Over $15B in stablecoin volume processed globally. 30+ chains supported. Funds activated in under 10 seconds.