Hinkal and Borderless are partnering to bring private stablecoin payments to fintechs, PSPs, and enterprises running flows on the Borderless network. The integration adds a confidential settlement to Borderless's stablecoin orchestration across 94+ countries and 63+ fiat currencies - without changing the wallets, API, or provider flows Borderless customers already use. Early access opens for Borderless and Hinkal customers in the coming weeks.

Why We're Partnering

Borderless connects fintechs, PSPs, and iGaming operators to a network of regulated on & offramp providers through a single API, enabling stablecoin payments and local banking rails across 94+ countries and 63+ fiat currencies. The off-chain orchestration - KYC, travel rule, FX, compliance, settlement routing, local rails - is what makes the network work end-to-end.

The remaining gap sits on-chain. Stablecoin transactions settle to public addresses by default, which means deposit patterns, balances, vendor relationships, and corridor volumes are visible to anyone with a block explorer. For a Web3 protocol, that visibility is acceptable. For a payments company, PSP, neobank, or iGaming operator running real commercial volume on stablecoin rails, it is the same as publishing your customer balances to their competitors.

Hinkal closes that gap. As Hinkal's growing pipeline of PSPs, iGaming operators, and neobanks has shown, demand for private settlement is no longer theoretical - it is a precondition for a particular class of commercial flows moving on-chain.

The partnership brings the two layers together. Borderless handles the off-chain orchestration; Hinkal handles the on-chain privacy. Borderless customers plug Hinkal in as the private settlement layer that holds shielded stablecoin balances and shields counterparty data - without changing how they interact with the Borderless API or provider network.

How It Fits The Borderless Model

Borderless is never in the flow of funds and never takes custody. Customer wallets connect directly to providers for onramp, offramp, FX, and settlement. Hinkal preserves that model exactly: the same wallet a Borderless customer uses today simply holds a private balance instead of a public one.

Concretely:

• The Borderless customer keeps the same wallet, the same Borderless integration, and the same funding flows.
• Onramp through any Borderless provider or virtual account works as today; deposited stablecoins land in the same wallet, now as a shielded balance.
• Offramp, payouts, and reconciliation work as today; the shielded balance funds the outgoing provider flow.
• Borderless continues to handle KYC, travel rule, and FX orchestration off-chain through its existing infrastructure.
• The Borderless customer uses the same private key to see the private balance via the Borderless dashboard or Hinkal Pay UI.

The customer reads the same balance from two places. The Borderless dashboard shows it as part of the standard account view. The Hinkal UI shows it with shielded transaction history and counterparty detail. Same wallet, same number, two views. The block explorer sees a shielded amount.

Hinkal sits on the customer side of the boundary, not inside Borderless. Borderless's 'never in the flow of funds' posture is unchanged.

Use Cases That Unlock

Four categories of Borderless customers get the most direct benefit.

Neobanks and embedded wallets. Hinkal's recent Polygon integration ships shielded wallets directly into the embedded wallet stack: when a neobank or fintech sends payment from one user to a recipient, the leak the operator is trying to prevent - visible balance, visible counterparty - is closed by default. Borderless customers running the same model get the same protection.

iGaming and betting operators. Operator treasury balances no longer broadcast on-chain. Regulated operators retain the compliance signal their licenses require while keeping operator-level asset data and treasury positions private from competitors and counterparties.

PSPs and orchestrators settling with merchants. PSPs routing stablecoin volume to downstream merchants on Borderless can keep merchant-level commercial detail - settlement size, frequency, supplier graph - off the public chain while continuing to use the same Borderless rails for fiat conversion.

Cross-border B2B payments and payroll. Companies paying contractors, suppliers, or subsidiaries through the Borderless network can keep vendor pricing, payroll size, and treasury operations confidential while corridors continue to settle in stablecoins.

In each case, the underlying Borderless flow is unchanged. The PFI network still routes the payment. Hinkal changes only what is visible on the chain between PFI in and PFI out.

Compliance Posture

The integration is designed to fit the regulatory frame Borderless customers already operate in:

• Each user holds a viewing key allowing them to prove transaction history to third parties - auditors, regulators, partner banks.
• Hinkal enables privacy post-compliance: after KYB and KYT are completed by integrators, settlement runs through the confidential layer.
• Travel-rule data continues to flow through the same Borderless identity infrastructure.
• Regulators, partner banks, and PFIs receive the same compliance signal they receive on standard Borderless flows.

Early Access

Co-development is starting with a small set of Borderless customers ahead of broader rollout. We're prioritizing companies in four profiles:

• Neobanks and embedded wallet platforms running stablecoin settlements
• iGaming companies with stablecoin treasuries
• PSPs and orchestrators routing volume to downstream merchants
• B2B payments and payroll platforms running cross-border corridors

If you're a Borderless customer (or planning to be) and any of these match your flow, get in touch. We'll size the integration, walk through the technical fit, and prioritize early-access placement.