$8M to Build the Visa for Crypto: Checker's Jack Chong on Unifying Stablecoin Liquidity

Volume since launch

Chong says Checker launched around twelve months ago and has since moved more than $3 billion in cumulative volume across its network, with an annual pace of around $8-10 billion. He describes going "from 0% to 1% in twelve months" of global B2B stablecoin payments and says the company is "just in the beginning."

Who plugs in

The customer base, as Chong lists it, runs from traditional banks such as Braza Bank in Brazil to B2B payments companies like Rail, which Ripple acquired for $200 million, to consumer neobanks such as Belo in Argentina and Airtm. He says Airtm is both a customer and an investor. Some founders of customer companies have also invested, including Justin at GCWay, who became an angel investor.

Chong says needs differ by client. Emerging market traders often use Binance almost as a custodian, while B2B PSPs in Brazil or the US use Anchorage, BitGo or Coinbase. He says he crashed on couches at customers' apartments in Lagos to learn how their traders handle USDT and USDC liquidity.

Market trends

In emerging markets Chong sees USDT leading, with USDC adoption growing fast among asset managers and institutional FX brokers. He says consumer neobanks are moving toward Robinhood and Revolut style "everything apps," while institutional CFOs and trading teams are getting more sophisticated on FX.

Lending and the roadmap

Chong calls prefunding in remittances an overlooked lending opportunity, since providers "brute force it by having capital" to send money over weekends. The Checker roadmap, he says, includes borrow and lend, consumer credit, tokenized stocks and overnight trading.