XFlow Launches Pilot Enabling Indian Businesses to Accept Stablecoin Payments and Convert Them Into INR

The company announced that the new solution enables stablecoin-native platforms and cross-border payment providers to offer stablecoin acceptance as a payment method without requiring platforms or customers to hold, manage, or take custody of stablecoins. According to XFlow, the stablecoin component of the transaction remains entirely outside India, while only fiat currency enters the country through an Authorized Dealer Category I bank along with complete compliance documentation.

The launch comes at a time when a growing number of global businesses are increasingly making payments through stablecoins. XFlow stated that Indian micro, small and medium enterprises, service exporters, and Software-as-a-Service companies have faced major challenges due to the absence of a compliant mechanism for accepting stablecoin payments for trade transactions and bringing those funds into India. The company said several Indian businesses have reportedly lost international customers because they were unable to support stablecoin-based transactions.

To address the issue, XFlow has partnered with an overseas licensed entity to accept and off-ramp stablecoins on behalf of Indian businesses outside India. The resulting funds are then transferred into India through regulated traditional fiat payment rails.

Anand Balaji, Co-founder and Chief Executive Officer of XFlow, said Indian businesses should not lose opportunities simply because international customers prefer paying through stablecoins. He stated that building seamless and compliant money movement infrastructure for exporters remains central to XFlow’s mission. He added that the pilot has initially been rolled out to select platforms, allowing users to access compliant stablecoin transaction support while benefiting from traditional financial settlement systems.

The company further stated that platforms already offering stablecoin wallets to customers can now compliantly bring those payments into India. XFlow’s cross-border payments stack will manage the entire off-ramp and settlement process, enabling platforms to provide a complete stablecoin-to-INR solution without independently developing compliance infrastructure. The company said the pilot will soon be expanded to all stablecoin-native platforms.

XFlow stated that the international commerce ecosystem continues to face outdated cross-border payment experiences despite rapid technological advancements in global trade. The company said its objective is to modernize cross-border payments for businesses ranging from freelancers and small enterprises to large platform companies serving millions of users worldwide.

The company is led by payments industry veterans Anand Balaji and Ashwin Bhatnagar, combining extensive financial technology expertise and payment industry experience. XFlow is backed by international investors including Lightspeed, General Catalyst, and Stripe, strengthening its position in the evolving global payments infrastructure sector.

The launch of the pilot marks a significant development in India’s cross-border payments ecosystem as businesses increasingly seek compliant solutions to participate in the expanding global stablecoin economy while remaining aligned with regulated financial systems.