Jeeves is stepping up its push into cross border payments with the launch of a BRL stablecoin product in Brazil and a major expansion of its B2B payment corridors. The Y Combinator and Andreessen Horowitz backed fintech, which serves more than 5,000 corporate clients across over 20 countries, is positioning its platform as infrastructure for instant, always on treasury operations. By combining stablecoin rails with multi currency accounts, the company aims to replace slow, expensive legacy systems that still dominate international transfers for businesses.
Expansion of the Jeeves Instant Pay network
At the core of the announcement is an upgrade to Jeeves Instant Pay, the company’s cross border B2B payment infrastructure. What began with corridors between Mexico and the United States and between Brazil and the United States is now being extended to routes such as Brazil–Mexico, Colombia–United States, Europe–United States, and Asia–Latin America. Jeeves plans to increase the number of active corridors fivefold by year end, with a longer term goal of covering around 80 percent of its customers’ trade routes and processing more than 500 million dollars in annual volume by 2026.
Launch of BRL stablecoin product in Brazil
The company marked the launch of its BRL stablecoin product with an event in São Paulo, where CEO and founder Dileep Thazhmon highlighted Brazil as one of Jeeves’ fastest growing markets, with local activity expanding more than fourfold this year. The new product gives Brazilian businesses access to stablecoin based wallets integrated into Jeeves’ spend management platform, allowing them to move seamlessly between BRL and major currencies such as USD, EUR, and GBP. According to the company, cross border transfers using these wallets can settle in under an hour, eliminating the frictions and delays that often accompany traditional international wires.
Benefits for global enterprises and LatAm clients
Jeeves positions Instant Pay and the new BRL stablecoin product as tools for companies with truly international footprints, including importers, exporters, and multinationals managing liquidity across subsidiaries. A Mexican importer, for example, can pay a supplier in the United States within minutes, while a group treasury team can shift funds between Colombia and the United States without waiting days for SWIFT based transfers. The company claims that its infrastructure can reduce foreign exchange costs by up to 80 percent compared with conventional options, which in some cases leave firms facing spreads and fees that push the effective FX cost above eight percent.
Stablecoin wallets, collection accounts, and cost efficiencies
On top of the Brazilian wallets, Jeeves is rolling out collection accounts that allow customers in Colombia, Mexico, and Brazil to send and receive USD or EUR without setting up a local entity in those markets. That structure removes the need for instruments such as a US LLC or EIN for many cross border payment flows, simplifying access for mid market and high growth companies that operate across several jurisdictions. By combining stablecoins, local currency rails, and multicurrency accounts with no IOF tax, no FX markups, and no wiring fees, the company is trying to compress both the time and the total cost involved in moving funds between regions.
Building the treasury infrastructure of the future
Internally, Jeeves has doubled the size of its dedicated stablecoin team in the past month, signaling that it views digital assets as a core part of its long term strategy rather than an experiment. Thazhmon has framed the roadmap as building the treasury infrastructure of the future, in which the underlying payment and FX plumbing becomes effectively invisible to finance teams. The company expects that by next year, at least half of all cross border transactions on its platform will move through the Instant Pay network, using the expanded corridors and stablecoin enabled flows introduced in this latest update.
With its new BRL stablecoin product and the broader expansion of Jeeves Instant Pay, the company is betting that businesses in Latin America, Europe, North America, and Asia are ready to move away from legacy cross border payment rails. Faster settlement, lower FX costs, and easier access to foreign currency accounts are being pitched as levers that can help regional champions compete on a global stage. If Jeeves executes on its plan to cover most of its customers’ trade routes and scale volumes in the coming years, it could emerge as an important B2B payments backbone for high growth companies operating across multiple continents.