Stablecoin issuance is no longer reserved for Tether and Circle. Smaller companies like Mosta are now launching their own dollar-pegged tokens, powered by infrastructure providers that handle the complex regulatory and reserve management work. This shift reflects a fundamental change in how businesses view stablecoins: not as external payment rails to rent, but as internal systems to own and control.

What Changed to Make Stablecoin Issuance Accessible?

Until recently, minting a dollar-backed token required the scale and regulatory expertise of major players. That barrier has crumbled. On June 23, 2026, Mosta, an AI-native business banking platform, launched MainUSD, its own U.S. dollar stablecoin issued through the regulated provider Brale. The move signals a broader trend: stablecoin issuance is becoming a product feature rather than a moonshot reserved for crypto giants.

The enabler is infrastructure. Brale, founded by Dwolla veteran Ben Milne, handles the hard parts that once required building from scratch: reserve management, compliance, and token issuance. The Des Moines-based company is a registered money services business across 45 U.S. jurisdictions, publishes monthly reserve attestations, and in June ran a private settlement proof-of-concept with Visa. This outsourcing model lets smaller companies focus on their core business while Brale manages regulatory complexity.

"We built Brale to make it easy for companies like Mosta to launch their own stablecoins without having to build reserve management, compliance, and issuance infrastructure from scratch," said Chase Merlin, head of product at Brale.

Chase Merlin, Head of Product at Brale

How Are Stablecoin Flows Reshaping Business Payments?

The numbers reveal why companies are racing to issue their own tokens. Stablecoin payment volume hit roughly $390 billion in 2025, more than double the year before. More striking: business-to-business stablecoin flows grew more than 700% to over $3 billion a month by the end of 2025, according to data compiled by Reap. This explosive growth in B2B adoption, separate from retail crypto trading, is driving the shift toward branded stablecoins.

Mosta's pitch captures the appeal. Customers can convert incoming funds or crypto into one MainUSD balance, hold it, and move it out through either fiat or stablecoin rails, with swaps the company says can go down to zero fees depending on the plan. Mosta already supports USDT and USDC, with the euro coin EURC said to be coming. The flexibility appeals to global businesses that want speed without sacrificing access to traditional banking.

Bigger players are moving the same direction. MoneyGram launched its own MGUSD coin in June 2026, issued through Stripe's Bridge. Mastercard agreed to buy the stablecoin infrastructure firm BVNK for as much as $1.8 billion. Stripe, Circle, Visa, and PayPal are all building settlement rails of their own. The competitive pressure is clear: owning the stablecoin flowing through your system beats renting someone else's.

Steps to Understand the Real Complexity Behind Stablecoin Issuance

• On-Chain Infrastructure: The token itself is the easy part. Minting and burning stablecoins on blockchain requires technical infrastructure, but this is now commoditized through providers like Brale.
• Off-Chain Fiat Integration: The harder challenge is synchronizing blockchain transactions with real-world bank transfers. Money still has to land in actual bank accounts, which requires licensed partners and correspondent banking relationships.
• Regulatory Licensing: Companies must navigate complex licensing requirements across multiple jurisdictions. MainUSD is designed to fit the GENIUS Act, the federal payment-stablecoin law signed in July 2025, whose implementation rules are still being written and are not expected to take full effect until late 2026 or early 2027.
• Partner Network Development: Building relationships with licensed "umbrella" partners in different regions is where the real work happens. SquareFi, Mosta's parent company, anchors its main entity in Canada and leans on licensed partners in Europe, the Middle East, and Asia to reach customers elsewhere.

"License is just the ten percent of the effort, another ninety percent is the partner work," said Anton Lobintsev, founder of SquareFi.

Anton Lobintsev, Founder of SquareFi

The payoff Lobintsev describes is concrete. A worker in Bangladesh could be paid by a local partner that redeems MainUSD on demand: SquareFi mints the coin against crypto it holds as collateral, sends it over, and the partner converts it to local currency in minutes. This route is far faster and cheaper than moving money through correspondent banks, which can take days and charge multiple fees.

Will Branded Stablecoins Actually Change Global Finance?

The skeptics have a point. Stablecoins still account for only about 1% of global cross-border payment flows, and not everyone is convinced that issuing a branded token is the same as reinventing banking. Some argue that companies are taking shortcuts: issuing a stablecoin, launching a card, and calling themselves a neobank without fundamentally changing how money moves.

But the thesis driving this wave is different. The bet is that owning the dollar moving through your system beats renting someone else's. When Mosta customers hold MainUSD, they are holding a token issued by Mosta's ecosystem, not a generic USDC or USDT. That ownership creates optionality: the company controls the user experience, the fee structure, and the integration with its other services. For businesses moving significant stablecoin volume, that control is worth the regulatory complexity.

The total stablecoin supply sits near $321 billion, with Tether's USDT and Circle's USDC accounting for more than 80% of it. The new entrants are not yet threatening that dominance. But the infrastructure to issue stablecoins is now accessible, the regulatory framework is taking shape, and institutional adoption for real-world use cases is accelerating. What was once a moonshot is becoming a standard business feature.