sFOX recently announced that its Connect platform has surpassed $600 billion in transaction volume, a milestone that they say shows how crypto and stablecoins are moving from niche experiments to essential tools for modern finance. As businesses increasingly adopt digital assets, the focus is shifting from “what can crypto do?” to “what can businesses build with it?”
Akbar Thobhani, CEO and Founder of sFOX, claims this shows a shift in thinking regarding crypto:
“We’ve moved beyond asking what crypto can do for businesses to asking what businesses can do with blockchains, crypto and stablecoins. Our customers aren’t just integrating cryptocurrencies—they’re building the future of finance with infrastructure that scales from startup to global operations.”
ERIS SAYS: sFOX’s announcement should be seen for what it is – an infrastructure development that enables businesses to embed crypto and stablecoin functionality through a single API. While $600B of transaction volume sounds a lot, it should be seen in the context of $3.6 trillion of card payment volume in Europe alone last year.
Beyond this, there are significant implications – not least the question of regulation. Assuming we can achieve some form of meaningful consensus – as yet lacking – on regulation of crypto across borders AND implement these regulations, traditional payment rails such as SWIFT or ACH, and card networks like Visa could gradually be replaced by faster, programmable systems.
In this scenario, banks would become regulated custodians and compliance anchors, while fintechs and digital platforms would take the lead in building user-facing financial experiences. Against this, one needs to balance the raw fact that overall transaction volumes using crypto remain miniscule compared to volumes processed using cards and/or digital wallets. Indeed, card volumes continue to grow robustly in Europe, North America and even Asia. We all see the promise in crypto – yet many crucial questions remain unanswered.
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