How Modern Treasury is building a payments platform for a hybrid money world

For years, companies that needed to move money at scale faced the same frustrating tradeoff: build their own bank integrations and compliance infrastructure — a process that could take months — or stitch together a patchwork of specialized vendors, each covering a different rail.

Modern Treasury has spent years sitting inside that problem, providing software infrastructure to help companies integrate with their banks, track funds, and manage ledgering at scale. 

Now, the founders have taken the company a significant step further, launching Payments, an integrated PSP that handles onboarding, KYB, and banking infrastructure on a client’s behalf, compressing what used to be a six-month setup into days. 

Stablecoins are built in natively from day one, powered by Modern Treasury’s acquisition of Beam, a stablecoin infrastructure company founded by Dan Mottice, who previously led crypto products at Visa and now heads stablecoin strategy at Modern Treasury.

The result is what the company calls a “forever payments platform,” designed to let companies start with fiat or stablecoin payments quickly with a single integration and expand over time, without the painful migrations that have historically defined scaling a payments stack.

Listen to the podcast to learn about how Modern Treasury is thinking about fiat rails and stablecoins as complementary infrastructure, how the Beam acquisition shaped the new product, and why President Dimitri Dadiomov and Mottice believe the most significant near-term stablecoin opportunity lies in how companies manage working capital.

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Why the integrated PSP model makes sense now

The customer signal that led Modern Treasury to build out its own PSP was consistent and came from two very different company types. Early-stage startups — typically engineering-led teams moving fast — would encounter Modern Treasury’s original model, understand the value proposition, and then realize they still had to establish their own banking relationships and compliance programs before they could get started. It was a significant roadblock. 

Larger enterprises faced a different version of the same friction: an innovation team with a mandate to experiment would eventually have to navigate internal procurement, compliance reviews, and CFO approval just to run a pilot.

“What we saw again and again is that a lot of companies for whom money movement was a core part of their product or service had to go spend three to six months setting things up before they could really test out their value proposition to customers,” said Dimitri Dadiomov, co-founder and president of Modern Treasury. The PSP model resolves this by taking on the compliance and banking infrastructure that previously fell to the customer.

The timing also reflects a regulatory environment shifting in stablecoins’ favor, making it more practical to offer stablecoin capabilities to mainstream commercial customers rather than just crypto-native companies. 

“What’s been fascinating is that we’re finding a lot of interest from folks that may not trust a crypto-native platform, but will trust somebody like Modern Treasury,” said Mottice. That trust gap has been a meaningful barrier to stablecoin adoption in corporate settings, and Modern Treasury’s brand in the payments infrastructure space appears to be helping close it.

Payment rails don’t die, they stack

One of the more grounding ideas running through Modern Treasury’s thinking is a deliberate skepticism of disruption narratives. Dadiomov is emphatic on this point: new payment rails don’t replace old ones, they layer on top of them. Paper checks are still around. Wire cutoff times are still a problem. ACH isn’t going anywhere, even as RTP and FedNow gain traction.

“Heterogeneity is a core feature,” Dadiomov said. For a large property management company or a global marketplace, the payment stack is moving toward more rails, more banking partners, and more complexity to manage. Through Modern Treasury, its clients can start with a basic PSP integration and add new rails, bank connections, or stablecoin capabilities over time without having to rebuild from scratch.

This same logic applies to how the company thinks about stablecoins relative to fiat infrastructure. The more interesting near-term opportunity isn’t stablecoins, but stablecoins working alongside scaled traditional systems. “What does it look like if I couple a stablecoin capability with an ACH debit, or an ACH credit with stablecoins, or RTP with a stablecoin?” Mottice said. “All the permutations that are possible when you couple a fiat rail with stablecoins are really, really interesting.”

The working capital use case is underappreciated

For Dadiomov, the “stablecoin sandwich” model, where a stablecoin sits in the middle of an international transfer to reduce cost and friction, misses one of the more significant opportunities, particularly for US companies.

The real opportunity, in his view, is in working capital management. Large enterprises running global operations routinely over-fund bank accounts in multiple countries to ensure they never miss a payroll or a vendor payment, essentially holding idle cash as a buffer against slow, unpredictable infrastructure. If instant, 24/7 settlement were the norm, that over-funding becomes unnecessary. “You can have a central cloud bank account earning the most yield you can get, and you can instantly off-ramp and drop funds wherever you need, 24/7, and you’ll never fail a payment,” Dadiomov said.

Mottice has seen early versions of this conversation start to take concrete shape. “We had a discussion today with a customer where things are moving from the speculative ‘what if liquidity were managed on chain’ to ‘how can we reduce the pre-funding requirements we have right now by using tokenized liquidity and doing something like a just-in-time off-ramp,'” he said. 

The shift from theoretical to operational suggests that at least some companies are past the pilot mindset and starting to think about stablecoin infrastructure as something that changes how they manage their balance sheets.

Building a stablecoin partner ecosystem

Modern Treasury’s approach to the stablecoin ecosystem mirrors its broader infrastructure philosophy: stay neutral, go where customers go, and don’t bet on a single winner. The company works with partners like Paxos, is a part of the Circle Alliance Program, and has joined the Global Dollar Network, giving it access to a range of stablecoin options as the market continues to evolve.

That range is becoming more important. A year ago, almost every customer inquiry was about USDC or USDT. More recently, Mottice has seen a surge of interest in yield-bearing stablecoins, a trend accelerated by the passage of the GENIUS Act and ongoing legislative movement around stablecoin regulation. “We’re seeing a hybrid model emerge, where there are payment stablecoins with liquidity pockets around the world, and then rewards-generating stablecoins,” he said. The ability to move between the two 24/7 is one of the structural advantages stablecoins offer over traditional money market instruments.

The partnership strategy also reflects the realities of building at the infrastructure level: Modern Treasury is centering its value on providing the plumbing that can handle whatever customers end up needing. As issuers proliferate – potentially including deposit tokens from banks and a wider range of institutional-grade products – the orchestration layer becomes more valuable.

The instant payments moment is coming

FedNow is gaining adoption on the banking side, RTP is live, and Dadiomov thinks the US is approaching an inflection point similar to what Brazil saw with PIX or India with UPI, a rapid shift in which real-time rails take substantial market share from slower alternatives.

“The ability to stitch together real-time payments, 24/7, instant fiat final, and combine them with stablecoins and with high-yielding instruments or cross-border.  That’s really the brave new world,” he said. The vision he described is one where the friction points that have defined corporate payments for decades such as cut-off times, multi-day settlement, manual reconciliation for failed payments, largely disappear.

Modern Treasury’s infrastructure investment over the years, including the scale and observability tooling built to handle billions in daily transaction volume, positions it to handle that shift without rebuilding. Mottice recalled that within days of the Beam acquisition closing, the team plugged an API key from one of Beam’s bank sponsors into Modern Treasury’s software platform and moved money the same day. “Everything flowed through the system beautifully. Everything was ledgered properly. And then reconciliation could be done very simply.” 

For a company trying to serve customers across the full maturity curve, from a three-person startup to a multinational enterprise, that kind of composable, resilient infrastructure needs to be the foundation everything else is built on.