In Q1, we called our 317% volume growth "a signal, not a spike." We said 2026 would be all about growth, and that the numbers would tell you whether we were right.
Q2 answered.
Payout volume grew 408% over Q2 2025. Gross revenue grew 98% year-over-year. Coming off the strongest quarter in company history, Q2 didn't just hold the pace - it accelerated it.
What the numbers actually mean
Growth numbers are easy to publish and hard to sustain. What matters is what's underneath them, and underneath ours is a pattern we've now seen two quarters in a row: enterprise clients aren't just onboarding, they're scaling. More volume, more corridors, more payout rails per client.
And revenue is pacing alongside volume. That's the part we watch closest, because it confirms the unit economics hold. The model doesn't strain under scale. It strengthens.
Two record quarters in a row isn't luck. It's architecture. We spent years building the orchestration layer the world's payout infrastructure was missing - a proprietary direct network, built relationship by relationship, market by market, across 180 countries. Every quarter is a stress test. Every quarter the answer is the same: it holds, it scales, it grows.
Stablecoins: from promise to production
While much of the industry is still debating stablecoins, we spent Q2 deploying them.
This quarter we announced two partnerships that move digital dollars from vision to production: we joined the Circle Payments Network (CPN) as a managed payments participant, and we partnered with Coinbase to power stablecoin-based payouts. Together, they bring regulated, enterprise-grade digital dollar rails directly into our orchestration platform.
Here's the important part: for MassPay clients, stablecoins aren't a separate product or a side bet. They're simply another rail - selected intelligently alongside bank transfers, cards, wallets, and cash pickup, based on what's fastest, cheapest, and most reliable for each payout.
Stablecoins solve the middle of the journey: moving value across borders instantly. But a payee in Manila or São Paulo doesn't want a token. They want money they can spend. That's where orchestration wins. We pair the speed of stablecoins with local delivery into bank accounts, wallets, and cash pickup across 180 countries.
Digital dollars in, local value out.
The rail is only half the story
Q2 also saw us deepen the infrastructure around the payout itself.
We launched payee verification services - account name inquiry, account validation, and bank account and name matching - at no additional cost to clients. Verification catches failed payouts and fraud exposure before money ever moves, which is exactly when you want to catch them.
We also expanded multi-currency funding to 39 currencies, giving enterprises more flexibility in how they fund global payouts.
Each addition follows the same logic that has guided MassPay since day one: the payout is not just a transaction. It's a promise to a real person. Every layer of the platform - verification, compliance, rail selection, last-mile delivery - exists to keep it.
Halfway through the growth year
We opened 2026 with a declaration: this year is all about growth. At the halfway mark, the results speak plainly. Back-to-back record quarters. Production stablecoin rails. Expanding enterprise adoption. A direct network that keeps proving it holds at scale.
Behind every percentage point is a real person getting paid faster, in the way they choose. That's what we're scaling - not just volume, but trust.
