what's ColossusPay?
ColossusPay is a permissionless, non-custodial crypto payments platform built on Solana, designed to enable real-world (IRL) spending of cryptocurrencies without reliance on traditional banks, Visa, or KYC requirements. It has acquired a Bank Identification Number (BIN) to issue cards for seamless crypto-to-fiat conversions using native stablecoins. The project emphasizes financial independence through on-chain banking mechanics, bypassing centralized intermediaries for direct wallet-to-purchase functionality.
ColossusPay partnered with Erebor for banking services and McDonald's.
Links
x.com/colossuspayPartnered with Erebor for banking services
Partnered with McDonald's.
Operates with compliance framework and no-KYC setup for users.
Achieved tap-to-pay settlement onchain in 172ms on ColossusNet devnet using an unmodified payment terminal.
Solayer Labs and Kraken confirmed as issuing partners alongside previously announced Frax Finance partnership.
Team member who previously worked at Kraken and Ink departed those roles about a month ago and is now building colossuspay as their startup.
Preseed funding round was pitched with fdotinc participating as an investor/supporter in the early stage financing.
Partnership announced with Frax protocol.
Launched a stablecoin-based credit card system on its Ethereum L2, built on the OP Stack.