Morph rolls out non-custodial stablecoin payments platform for businesses and freelancers Morph has launched a non-custodial payments platform that lets businesses accept and send USDC and USDT while settling customer payments directly to wallets they control. Announced in an Aug. 12 press release, Morph Payments targets online merchants, freelancers and distributed organizations that want on-chain, stablecoin-native payments without handing custody to a third party. How it works - Instead of moving funds into an account owned by Morph, businesses connect a self-custodial wallet to the platform. When a customer pays, the stablecoins transfer on-chain straight to the recipient’s chosen wallet and become available once the blockchain confirms the transaction. - Merchants can generate invoices or payment links that send customers to a checkout page; incoming and outgoing activity is consolidated in a single dashboard. The first release supports USDC and USDT. Why Morph is pitching a non-custodial model Morph frames direct on-chain settlement as a way to shorten the time businesses wait to access incoming funds versus custodial processors that hold merchant balances before disbursing them. The company also positions the product for cross-border and remote-work payments where bank rails can add latency and complexity. Morph’s head of ecosystem, Renna Ba, said businesses should be able to “work with several stablecoins in much the same way that companies now handle different national currencies,” with the platform aiming to hide payment complexity so merchants can focus on growth. What’s included — and what’s missing The initial release supports creation of invoices and checkout links, sending stablecoins, and a dashboard for tracking payments, invoices and checkout assets in one place. Businesses could begin registering via Morph’s website on Aug. 12. Morph’s announcement is light on several operational and compliance details. The release did not disclose: - platform fees or transaction limits - supported jurisdictions and state availability in the U.S. - identity-verification or KYC requirements - wallet compatibility and smart-contract audit results - transaction-speed benchmarks or comparisons with rival payment providers Morph also did not release transaction targets, expected user numbers, revenue projections, or a roadmap with specific feature timelines. How this fits into Morph’s broader strategy The launch adds a user-facing payments product to Morph’s existing stablecoin infrastructure work. In January, Morph named Cobo as its first partner for the Morph Payment Accelerator, a program tied to verified stablecoin volume on Morph’s mainnet. Cobo brings custodial wallet, MPC and multi-chain wallet infrastructure and has focused on institutional stablecoin activity and high-frequency settlement. Market context and competitors Morph cited Visa on-chain analytics that put adjusted stablecoin volume at $10.2 trillion over the prior 12 months, a 65% increase year-over-year. Morph’s own April research estimated $33 trillion of on-chain stablecoin volume for 2025 and projected more than $50 trillion in 2026; those figures are company estimates rather than audited results. Other providers are moving into business stablecoin tooling: in July, Ramp launched stablecoin business accounts on Solana that let customers hold and send USDC and USDT and convert to local currencies in many markets. Ramp’s product bundles stablecoin balances with approval and accounting tools, whereas Morph’s first release emphasizes direct settlement to merchant-controlled wallets and does not include local-currency conversion, bank-funding rails, or accounting integrations. Regulatory backdrop U.S. firms considering stablecoin payments must navigate a shifting federal framework. The GENIUS Act — signed into law July 18, 2025 — imposes issuer-focused reserve, redemption, disclosure and supervision requirements for payment stablecoins. The law primarily regulates issuers, but distribution and service provision remain relevant because U.S. digital-asset service providers will face restrictions on offering payment stablecoins from non-permitted issuers beginning in July 2028. Federal agencies had not finalized all GENIUS Act rules by the July 19 deadline, and the statute is set to take effect by Jan. 18, 2027 unless final regulations trigger an earlier implementation window. Bottom line Morph Payments introduces a straightforward, non-custodial way for businesses and freelancers to accept USDC and USDT on-chain, keeping custody in the hands of the merchant. The approach promises faster access to funds and simpler cross-border flows, but important practical and compliance details remain undisclosed — fees, limits, audits, and jurisdictional coverage among them. For companies evaluating stablecoin payment rails, Morph’s product offers a clear custody model and a consolidated dashboard; whether it becomes a go-to option will depend on the missing operational details and how the regulatory landscape evolves. Read more AI-generated news on: undefined/news