Banxa, the payments firm OSL bought in January, is out with a new embedded payments product called Native. It lets wallets, exchanges, and fintech apps plug fiat-to-crypto and crypto-to-fiat transactions directly into their own interfaces, rather than sending users to a separate checkout. The launch came on August 20, and the company says it's designed to turn crypto into something you actually pay with.
What Native does
Native works by letting a partner app handle the whole flow. A user buys crypto with fiat or sells it back without leaving the wallet. Banxa runs the regulated rails — price quotes, compliance checks, and settlement — while the partner keeps its branding and customer relationship. Existing KYC can carry through, so returning users don't have to re-verify. That's the smooth part.
Not everything is fully embedded yet. Some methods like PayPal, iDEAL, Klarna, and PIX still redirect a user to Banxa's hosted checkout. So it's a hybrid approach for now, but the core logic is in place.
The regulatory backbone
Banxa's Dutch entity holds a MiCA licence that covers 30 EEA countries. That gives Native a legal route into a big chunk of Europe without each partner needing its own license. OSL completed the Banxa acquisition in January as part of a wider stablecoin push, and Native is the first concrete product from that combination. The timing works — regulators are paying more attention to how stablecoins move, and a licensed rail helps.
The scale and the gap
Banxa isn't a small startup. It has more than 400 platform integrations, has served over 10 million users, and processed more than $10 billion in cumulative volume. Those numbers suggest the infrastructure exists. But the actual payments use case is still thin. Only about 3.6% of adjusted stablecoin volume in 2025 came from real payments. The rest is trading, lending, or just sitting in wallets. Native is an attempt to move that number higher.
What the industry says
Trust Wallet CEO Felix Fan praised Native for simplifying the fragmented crypto user experience. That's a nod to the clunky step of sending people to a third-party checkout. With Native, the aim is to keep everything in one place.
The product is live now, and Banxa has a MiCA licence to build on. The immediate question is how quickly those redirect-dependent methods — PayPal, Klarna, PIX — get folded into the fully embedded flow. That's the next concrete step for Native.
