Unlimit Launches Stable.com, a Non-Custodial Hub for Stablecoin Swaps and Fiat Off-Ramps

A new decentralized clearing house aims to unify the fragmented stablecoin market by combining non-custodial swaps with global fiat access.

Introduction: Bridging DeFi and Global Finance

On December 2, 2025, the fintech company Unlimit announced the launch of Stable.com, a platform it describes as a decentralized clearing house built specifically for stablecoins. This service represents a significant infrastructural development, being the first to pair non-custodial stablecoin swaps with direct global fiat off-ramps within a single interface. The core proposition is to enhance the practicality of dollar-pegged tokens by streamlining processes that have traditionally involved multiple platforms, custodial risks, and significant friction. By leveraging Unlimit's established global payments network, Stable.com intends to connect decentralized finance (DeFi) rails directly to local currencies in over 150 markets through more than 1,000 payment methods.

The Stablecoin Conundrum: Growth and Fragmentation

Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to a reserve asset like a fiat currency or gold. They have become the indispensable plumbing of the crypto economy, facilitating trading, serving as collateral in DeFi protocols, and acting as efficient cross-border payment rails. Their market capitalization has grown exponentially since the inception of pioneers like Tether (USDT) and USD Coin (USDC).

However, this growth has led to market fragmentation. Users and institutions now navigate a landscape filled with numerous stablecoins issued on multiple blockchains (Ethereum, Solana, Tron, etc.), each with varying degrees of liquidity, regulatory standing, and redemption mechanisms. Swapping between these assets or converting them into local fiat currency often requires using separate custodial exchanges, paying gas fees on-chain, or relying on third-party payment processors that introduce delays and counterparty risk. Unlimit frames Stable.com as a direct response to this fractured ecosystem, aiming to consolidate major tokens under one roof and integrate them seamlessly with traditional finance.

Inside Stable.com: A Non-Custodial Clearing House

At its heart, Stable.com functions as a decentralized clearing house. In traditional finance, a clearing house acts as an intermediary between buyers and sellers to ensure the settlement of transactions and manage counterparty risk. Stable.com adapts this concept for the digital asset world but with a critical non-custodial twist.

The platform allows users to trade among major stablecoins without the platform ever taking custody of their funds. According to the announcement, these swaps incur no gas fees or commissions. This is achieved by likely utilizing advanced blockchain interoperability solutions and off-chain matching engines, settling transactions directly in users' self-custodied wallets. This model stands in stark contrast to centralized exchanges (CEXs), where users must deposit funds into an exchange-controlled wallet, incurring both trading fees and inherent custodial risk—a risk highlighted by historical events like the collapses of FTX and others.

The Critical Link: Global Fiat Off-Ramps

What distinguishes Stable.com from many decentralized exchanges (DEXs) is its integrated fiat off-ramp capability. While many DEXs excel at token-to-token swaps, converting crypto to spendable local currency often remains a disjointed process involving separate, regulated third-party services.

Stable.com directly integrates Unlimit's licensed global payments infrastructure. This enables users who have swapped into their desired stablecoin to then convert it into their local currency across a vast network of over 150 markets via methods including bank transfers, card payments, and local e-wallets. By bundling the swap and off-ramp into a single flow, Unlimit aims to drastically reduce the steps, time, and points of failure for users seeking to realize the value of their crypto holdings in everyday life.

Unlimit's Foundation: Regulatory and Infrastructural Backing

The ambitious scope of Stable.com is underpinned by Unlimit's operational history and scale. Founded in 2009, the company states it serves tens of thousands of businesses and over a billion users through its payment solutions. This long-standing operation provides Stable.com with something many crypto-native projects lack: an existing framework of global licensing, banking partnerships, and compliance infrastructure.

Kirill Eves, CEO and founder of Unlimit, emphasized this foundation in the release, stating that stablecoins are an emerging "extension of the U.S. dollar" and a growing tool in global commerce. He added that Stable.com is explicitly "designed to bridge decentralized finance (DeFi) with traditional financial systems." This regulatory and infrastructural backing allows the platform to launch as a full-fledged service rather than a limited pilot, potentially offering greater stability and reach from day one.

Contextualizing the Move: A Maturing Market Environment

The launch of Stable.com occurs within a broader context of accelerating institutional and traditional finance adoption of digital assets. Notably, just hours before this announcement, Bloomberg reported that investment giant Vanguard would reverse its long-standing anti-crypto stance and begin allowing crypto ETFs and mutual funds on its platform, granting access to its 50 million clients.

This shift by a traditionally conservative firm like Vanguard signals deepening market maturation and demand for regulated digital asset access. It creates a more receptive environment for services like Stable.com that seek to build compliant bridges between crypto and fiat. Furthermore, the focus on stablecoins aligns with their growing perception not merely as speculative instruments but as functional payment tools and dollar proxies—a sentiment echoed in Unlimit's press release.

Comparative Landscape: Filling a Unique Niche

To understand Stable.com's potential role, it's useful to compare its model to existing solutions:

• Centralized Exchanges (e.g., Binance, Coinbase): Offer both trading and fiat off-ramps but are fully custodial. Users cede control of their assets and are exposed to exchange-specific risks.
• Decentralized Exchanges (e.g., Uniswap): Enable non-custodial swaps but typically lack integrated fiat gateways. Users must use separate services for off-ramping.
• Fiat On/Off-Ramp Providers (e.g., MoonPay): Specialize in crypto-fiat conversions but are not typically built for efficient stablecoin-to-stablecoin swaps within the same interface.
• Cross-Chain Swap Protocols: Facilitate asset transfers across chains but rarely provide direct fiat exit points.

Stable.com appears positioned at the intersection of these categories—a non-custodial hub specifically for stablecoin liquidity that also provides a direct path to global fiat currencies. Its closest analogues might be certain DeFi aggregators that have begun integrating fiat features, but rarely with the purported scale of over 150 markets and 1,000 payment methods from launch.

Strategic Conclusion: Streamlining the On-Ramp to Everyday Use

The launch of Stable.com by Unlimit represents a concrete step toward solving one of cryptocurrency's enduring usability challenges: moving fluidly between different digital dollar representations and ultimately into spendable local currency. By combining non-custodial swaps with extensive fiat off-ramps, it targets the friction that has hindered stablecoins from being used more routinely in commerce and personal finance.

For the broader market, this development highlights two converging trends: the continued professionalization of DeFi infrastructure aiming to eliminate custody risk, and the deepening integration of traditional payment rails with blockchain networks. As entities like Vanguard open doors to regulated products and firms like Unlimit build bridges for practical settlement, the perimeter between crypto and mainstream finance continues to dissolve.

Readers should watch for several key developments following this launch:

1. Adoption Metrics: User uptake and volume processed through Stable.com will be the ultimate test of its value proposition.
2. Supported Assets: The specific "major stablecoins" supported at launch and added later will determine its utility across different blockchain ecosystems.
3. Regulatory Dialogue: How a platform blending DeFi principles with extensive fiat operations navigates evolving global regulations will be critical to its long-term operation.

If successful, Stable.com could serve as a model for how established fintech companies can leverage their compliance and banking networks to build more open, user-controlled gateways into the crypto economy—making stablecoins truly functional as a seamless extension of global money.