BlindPay

What do they actually do

BlindPay runs a developer-facing payments platform with an API and dashboard for moving money between fiat bank rails and popular stablecoins. Apps can accept fiat, accept and send USDC/USDT across multiple blockchains (e.g., Ethereum Mainnet, Base, Arbitrum, Polygon, Stellar, Tron), and convert between stablecoins and local fiat using local banking rails and on/off‑ramps. The platform also automates KYC/KYB, sanctions screening and monitoring so customers don’t have to assemble separate compliance providers (docs overview, global payments, chains & tokens, receivers & KYC).

In practice, payouts move from a sender’s stablecoin wallet to local-currency deposits over rails like ACH, Pix, SPEI, RTP and SWIFT, with failed fiat settlements returned to the originating wallet. Payins work the other way: a payer sends fiat to a designated or virtual account and BlindPay releases equivalent stablecoins to the recipient wallet. Virtual accounts are currently issued to US individuals/companies (ACH, Wire, RTP, SWIFT supported), with expansion planned. The docs describe a primarily non‑custodial model, while pricing/features indicate custodial wallets are also available where needed (payout flow, payin flow, virtual accounts, pricing).

Today it’s used by developer teams at fintechs, neobanks, payroll/remittance platforms and marketplaces needing faster, cheaper cross‑border payins and payouts. Public case studies and partner mentions show integrations and customers, including activity in US↔LatAm corridors (e.g., Bitso Business) (YC profile, Bitso partner mention, case study).

Who are their target customer(s)

• Payroll and remittance platforms: They face slow, expensive cross‑border transfers, FX uncertainty, and heavy KYC/onboarding workload. BlindPay’s payin/payout flows and automated KYC/KYB target these issues (docs overview, case study).
• Fintechs and neobanks building cross‑border features: Maintaining multiple bank relationships, FX engines and reconciliation tools is costly, and virtual account availability is currently US‑centric. BlindPay provides US virtual accounts now with plans to expand coverage (virtual accounts, pricing).
• Marketplaces and gig platforms with many payees: They need fast mass payouts, per‑recipient accounting, and automated KYC/KYB without stitching together multiple providers. BlindPay offers receivers, virtual accounts, and webhooks to streamline this (receivers & KYC, virtual accounts).
• Crypto‑native apps needing fiat on/off‑ramps: Converting between stablecoins and local fiat across multiple chains without custody or compliance complexity is hard. BlindPay supports USDC/USDT on several chains and handles compliance steps (chains & tokens, receivers & KYC).
• Enterprise merchants and finance teams handling large settlements: They need SLAs, role‑based controls, named accounts and predictable reconciliation/FX for high‑volume flows. BlindPay offers higher‑tier enterprise features and RBAC in product (pricing, RBAC changelog).

How would they acquire their first 10, 50, and 100 customers

• First 10: Run hands‑on pilots with payroll/remittance platforms and marketplaces in US↔LatAm via YC and partner intros; offer reduced pilot fees and dedicated engineering plus tailored KYC onboarding to shorten integration time (Bitso partner mention, case study, receivers & KYC).
• First 50: Productize the pilot playbook with public sandbox, sample code, and clear pricing tiers, then run targeted outbound demos to convert pilots to paid accounts (docs overview, sandbox/API docs, pricing).
• First 100: Scale through channel/bank partners and corridor coverage—expand virtual accounts and instant rails, sign reseller/integration deals, and staff account managers while automating compliance to keep costs down (virtual accounts, RTP/Tron changelog, pricing/enterprise).

What is the rough total addressable market

Top-down context:

Consumer remittances are in the high‑hundreds of billions annually (e.g., ~$656B to LMICs in 2023), and the global cross‑border payments revenue pool is around $200–$215B per year. Low‑value flows (remittances, SME/payroll/disbursements) drive roughly one‑third of that revenue (World Bank, McKinsey, Grand View).

Bottom-up calculation:

Using ~30% of a ~$210B cross‑border payments revenue pool implies a low‑value segment of roughly $60–70B annually; this is the practical revenue pool for rails providers targeting remittances, payroll and marketplace payouts, where BlindPay’s API sits (McKinsey, Grand View).

Assumptions:

• Low‑value flows represent ~30% of cross‑border payments revenue, consistent with McKinsey’s guidance.
• The relevant TAM is provider revenue, not total flow value; we use ~$210B as the 2024 revenue baseline.
• BlindPay’s target buyers (fintechs, payroll/remit, marketplaces) map to the low‑value segment’s revenue pool.

Who are some of their notable competitors

• Circle: USDC issuer with APIs for payments, payouts, wallets and bank connectivity; overlaps on programmable stablecoin flows and institutional on/off‑ramps (docs, payments overview).
• Wyre: Developer‑focused fiat↔crypto stack (on‑ramps, off‑ramps, custodial wallets, KYC and bank payouts); overlaps on API‑first payin/payout rails and compliance automation (onramps, bank payouts).
• Bitso Business: LatAm‑focused payments/treasury platform with stablecoin orchestration, local rails (PIX, SPEI, PSE) and an enterprise API; direct overlap on US↔LatAm corridors BlindPay targets (product/API, multirail API).
• Transak: Fiat on/off‑ramp provider with SDKs and white‑label API for buying/selling stablecoins across many countries; competes when partners need turnkey on/off‑ramps rather than full multi‑rail settlement (docs, off‑ramp).
• Currencycloud (Visa): Established cross‑border/FX infrastructure with virtual/named accounts, multi‑currency wallets, FX and payouts via APIs; alternative for buyers preferring traditional fiat rails over (or alongside) stablecoin‑centric flows (developer, product).