Loading...
Supporting developers, startups, and full-fledged companies building on Stellar and Soroban
© 2025 Stellar Development Foundation
Subscribe to the Newsletter
By Diameter Pay
Enables regulated financial institutions to obtain virtual USD accounts with seamless on/off-ramps to Stellar USDC, connecting on-chain payments to global fiat rails (SWIFT, Fedwire, ACH, FedNow, RTP)
Diameter provides financial institutions with USD payments and custody, as well as virtual accounts for their end users, to seamlessly send and receive payments across the major USD rails at several partner banks. Diameter acts as a regulated entity.
The Stellar integration extends this platform to include on-chain USDC settlement, allowing institutions to buy and sell stablecoins directly from their bank accounts, for themselves and for their customers.
The system connects to multiple domestic and international rails (ACH, Fedwire, SWIFT, FedNow, RTP) via integrations at SSB, Portage, and Payall. Treasury reconciliation ensures 1:1 parity between fiat and digital asset balances, while transaction monitoring (on and off chain) provides continuous AML/CFT oversight across both environments.
Once deployed, Diameter will act as a regulated bridge between banks and the Stellar network, giving institutions direct access to stablecoin liquidity and cross-border transaction capabilities without the hassle of onboarding directly with banks and having to manage complex on-chain integrations.
Maybe in the future, but not in this submission
$147.0K
Functional:
Stellar SEP-24 integration live on mainnet with full mint/redeem functionality.
Global Ledger API providing real-time on-chain compliance telemetry.
1:1 treasury reconciliation live between Stellar wallets and SSB/Portage accounts.
Payall integration operational, with multi-rail access (ACH, FedNow, RTP, FX).
Adoption:
Minimum 3 institutional clients using the on/off-ramp within 3 months of go-live.
At least 1 new FI or fintech client onboarded primarily for Stellar functionality.
$5–10 million equivalent USD/USDC throughput within 6 months.
Ecosystem Impact:
New U.S.-regulated anchor capacity added to Stellar network.
Diameter listed as operational on/off-ramp provider.
More global integration between USD centralized rails and Stellar USDC, expanding financial inclusion and global USD access
From discussions with Tom Levett and Boris Reznikov at SDF, it is clear that the Stellar network needs additional USD/USDC on–off ramp providers. Existing anchors such as Bridge are currently backlogged, and Lead Bank may be reducing its risk appetite. Tom mentioned that expanding access to new regulated on/off-ramp providers is part of Stellar’s 2026 strategic roadmap, and that there is meaningful ecosystem demand for new capacity.
Diameter is well-positioned to meet that need. With existing integrations at SSB and Portage Bank, we can deliver fully KYC’d, U.S.-based banking access directly into the Stellar network—creating a faster, more reliable way to convert between USD and USDC. Our integration with Payall will open up additional currencies and bank providers so that we can build additional on-chain FX solutions.
Our commercial plan begins with existing financial institution clients already using Diameter for virtual accounts and treasury routing. Several have requested on-chain functionality; for instance, prospects have indicated they require a single provider capable of managing their USD and USDC flows seamlessly. Of our existing clients, it may be possible to bring several of them onto the platform for Stellar USDC services.
The total addressable market for USD-only cross-border payment fees is estimated at $60–80 billion annually, representing a major opportunity for Stellar-based settlement infrastructure.
Once integration is complete, we can immediately activate these accounts and channel additional USD liquidity into Stellar. In parallel, Diameter is preparing a capital raise in 2026 to accelerate onboarding and distribution. Stellar integration is a key part of that go-to-market strategy. By adding Diameter as an anchor, Stellar gains expanded USD liquidity, faster settlement optionality for institutions, and diversified on/off-ramp redundancy for ecosystem resilience.
Diameter is already integrated with several US Banks including SSB Bank and Portage Bank where the firm processes over $1 billion in monthly USD flow across institutional clients. Lifetime payment processing exceed $10 billion. The platform powers virtual accounts, treasury services, and compliance infrastructure for financial institutions and fintechs operating globally.
The company is profitable with over $2 million in annual recurring revenue, expanding toward $3.5 million ARR in 2026, and maintaining approximately 50% operating margins. Active clients include leading stablecoin orchestrators, crypto-friendly banks, and global fintechs, among others.
Diameter currently supports seven foreign financial institutions and thousands of end users through embedded account and payment services. Multiple prospects (leading fintech firms) have confirmed they will onboard with us following Stellar integration to enable regulated USDC on/off-ramps.
As a money transmitter in New Jersey and a FinCEN-registered Money Services Business, Diameter is subject to federal anti-money laundering laws and is experienced in payments regulatory compliance. The company has been a 3rd party to multiple federal bank regulatory examinations, has passed several independent AML reviews, and has been examined by the State of New Jersey. All exams have concluded with no material findings.
Having already delivered production-grade integrations with SSB Bank, Portage Bank, Western Alliance Bank, and Flagright, Diameter’s engineering team has also proven its ability to execute at institutional scale and deliver within SCF timelines.
Tranche 1
Objective:
Establish Diameter’s core technical foundation for Stellar and Payall integrations, including compliance, orchestration, and DevOps infrastructure.
Deliverables:
Integrate Global Ledger API for on-chain AML/compliance monitoring.
Implement SEP-1 and SEP-10 service discovery and authentication flows.
Deploy Wallet Service and Treasury Reconciliation for 1:1 Stellar–bank parity.
Build CI/CD pipelines for Stellar + Payall modules.
Validate event notifications and monitoring dashboard output.
Completion Criteria:
SEP-1/SEP-10 endpoints active and verified.
Global Ledger API producing risk scores.
Treasury parity verified against SSB/Portage accounts.
Automated CI/CD builds and successful test deployments.
Estimated Completion: February 2026
Budget: $73,500 (50%)
Tranche 2
Objective:
Deliver working testnet version of the Stellar on/off-ramp and full Payall orchestration in sandbox.
Deliverables:
Implement SEP-24 Hosted On/Off-Ramp.
Complete routing between Stellar wallets, Treasury, and SSB/Portage.
Connect Payall Core API sandbox (ACH, FedNow, FX).
Merge Global Ledger + Flagright telemetry for unified audit reporting.
Execute testnet transactions end-to-end.
Completion Criteria:
Verified Stellar testnet transactions and reconciled treasury logs.
Successful Payall sandbox callbacks.
Unified telemetry reporting live.
Estimated Completion: April 2026
Budget: $51,450 (35%)
Tranche 3
Objective:
Finalize production deployment, activate live monitoring, and onboard real clients.
Deliverables:
Launch SEP-24 mainnet integration for mint/redeem flows.
Activate Global Ledger + Flagright monitoring in production.
Launch Payall production integration (TransPecos + new corridors).
Deliver operational documentation and QA report.
Completion Criteria:
Verified mainnet Stellar transaction logs.
Production telemetry live.
Documented multi-rail transfer test successful.
Estimated Completion: May 2026
Budget: $22,050 (15%)
Diameter Pay is led by founder and CEO David Lighton, an MIT graduate and former World Bank Analyst who helped rebuild Haiti’s financial system after the 2010 earthquake. He founded Diameter to modernize global payments access with a compliance-first approach rooted in real-world financial inclusion.
Our leadership team combines deep institutional and fintech experience. Philipp von Girsewald, former Partner at Deutsche Bank and CEO of Raisin U.S., and Jeff Horvath, former Senior Managing Director of Legal and Compliance at Deutsche Bank and Fitch Ratings, anchor our governance and regulatory framework. Raj Sheth, based in London, leads revenue. Diameter is also onboarding a new compliance officer who formerly ran correspondent banking AML for Deutsche Bank.
Our engineering organization, headquartered in Poland and led by Rafal Petsch, builds and maintains Diameter’s multi-bank API, ledger, and compliance systems. Senior engineers Jakub Andrzejewski, Jakub Sokołowski, Jakub Miziołek, and Juliusz Kowalewski specialize in payments orchestration, security, and automation.
Operations and compliance are managed from Argentina by Matias Lefloth, Javier Sanchez, and Nicolas Mauro—all formerly at Flutterwave—bringing hands-on expertise in AML, transaction monitoring, and customer due diligence. Fred Hosea, based in Lagos, supports AML review and sanctions analysis.
Our board of directors includes Sandra Ro, CEO of the Global Blockchain Business Council, and Satwik Seshasai, cofounder of Segovia Technology, one of Africa’s original mobile money pioneers.
Diameter’s multicultural team spans the U.S., U.K., Poland, Argentina, and Nigeria—reflecting our mission to build the world’s most trusted programmable payments infrastructure.
David L Diameter Pay
No other submissions.