Monaris

1. The problem

A business can earn in stablecoins, hold its treasury onchain and pay suppliers in stablecoins, yet struggle to access credit within that same system.

Its receivables and payment history have value. But accessing conventional financing can mean moving through bank accounts, converting funds and repeating verification across providers. That adds conversion costs, delays and administrative work.

These businesses need capital that works with how they already operate.

2. Why now

Stablecoin adoption is creating a substantial market for financial services:

• $303 billion in stablecoin supply at the end of August 2026.

• At least $401 billion in stablecoin payments during the first eight months of 2026, up 42% year over year.

• Approximately $226 billion in annualized B2B stablecoin payments, based on December 2025 activity, according to McKinsey and Artemis.

Regulation is also becoming more defined. Hong Kong’s stablecoin issuer licensing regime took effect on 1 August 2025. Singapore’s MAS published proposed legislative amendments to implement its stablecoin framework in September 2026.

Our thesis is straightforward: businesses adopting stablecoins need financing that operates in the same system.

3. What Monaris does

Monaris is building a programmable private credit network that turns verified business cash flows and assets into access to capital. Our first product, receivables financing, is live.

We bring verification, underwriting, funding, settlement and credit history into one system. Businesses receive financing and repay in stablecoins, without making a fiat conversion part of the financing process.

4. The first product and user flow

• Verify: The business completes KYC and KYB, registers a receivable and provides supporting evidence, including payer confirmation.

• Underwrite: We assess the receivable, repayment history and exposure limits, then record approved terms onchain.

• Fund: The business receives an approved advance in stablecoins.

• Repay: When the customer pays through Monaris, one settlement transaction repays the advance and accrued interest, then releases the remaining funds.

• Build credit history: Each completed cycle contributes to the business’s Monaris Score.

Businesses start at Tier D and can progress through C, B and A as their verified history improves. The score and tier inform advance ratios, credit limits and pricing, subject to underwriting.

5. Why privacy matters

Financing can reveal customer relationships, transaction volumes, payment terms and margins. Businesses should be able to demonstrate creditworthiness without publishing their commercial information.

Our RAILGUN integration on Arbitrum One supports private holding and transfers of supported funds. We’re extending privacy to the evidence behind financing requests.

Capital providers need verifiable exposure and repayment records. Businesses need control over sensitive information. Monaris is being built around both.

6. Buildathon progress

Mentor and judge feedback helped us focus on receivables, cut distractions from the core flow and add USDG settlement.

We deployed the full contract stack on Robinhood Chain too, alongside our existing Arbitrum One deployment.

7. Traction

• Approximately $55,000 financed.

• More than 150+ businesses in our access pipeline.

• Initial customers include agencies, consultancies and exporters operating in stablecoins.

We’re starting through direct relationships, using each financing cycle to build repayment history and improve the product.

8. Business model

Our model combines a 1.5% origination fee with servicing fees. Capital providers earn financing interest.

As the network expands, we plan to add revenue from settlement and FX services.

9. What comes next

• USDG financing and Mona AI: Fund the Robinhood Chain credit facility, complete the first live USDG financing cycles with pilot businesses, and introduce Mona AI to recommend terms for human approval.
  

• More financing products: Add financing against verified signed contracts and committed payments, followed by recurring revenue financing.
  

• Embedded credit and B2B buy-now-pay-later: Integrate with billing, payments and commerce platforms so businesses can access financing where they manage invoices, receive payments and purchase supplies.
  

• Eligible asset-backed credit: Develop borrowing against eligible treasury and tokenized assets once collateral control, valuation and liquidation rules are established. Stock Token holdings remain informational today.
  

• Institutional participation: Build portfolio, risk, reporting and servicing tools for institutional capital providers to fund credit pools and work with originators. Over time, connect businesses, platforms, capital providers and insurers around shared evidence and defined financing terms.