Rhino.fi has expanded its Smart Deposit Addresses to support payments in a wider range of dollar- and euro-denominated stablecoins, while allowing businesses to continue receiving a single settlement asset of their choice. The company said the update is intended to simplify stablecoin payments as the market becomes increasingly fragmented across issuers, currencies and blockchain networks.

Smart Deposit Addresses have been available for more than a year and give businesses a unified account for receiving payments and settling transactions across more than 30 networks. The latest expansion extends that model from blockchain connectivity to the assets themselves, allowing counterparties to send the stablecoins they already hold while businesses receive their preferred settlement currency.

Rhino.fi said network fragmentation among its clients peaked in October 2025, when 27 networks were recording meaningful monthly transaction volumes. Since then, activity has consolidated around 10 networks. Base and Tron are now the two largest networks by volume, together accounting for more than half of activity on the platform. The leading networks have changed twice over the past 18 months.

“Over the last year, the number of chains in active use has consolidated,” said Will Harborne, Co-Founder and CEO of Rhino.fi in a written statement. “But now there’s a new fragmentation. There’s a whole bunch of new stablecoins being created, and this is becoming really difficult for people building on blockchains to work with. What we’re really doing here is becoming a stablecoin clearing house. That allows you, as a builder, not to have to worry about what the underlying stablecoin is, what chain it’s on, and just to know that you can instantly swap it for all of the other ones,” he added.

Harborne said the growing number of stablecoins could make cross-asset infrastructure increasingly important for businesses operating across blockchain ecosystems, particularly as payment flows, treasury operations and settlement preferences differ across markets.

“There are hundreds of major stablecoins live or launching, and the earliest companies to adopt a cross-stablecoin clearing solution for deposits, withdrawals and payments will have the fastest growth and become dominant over the next year,” Harborne said.

Stablecoin Market Broadens Beyond Established Leaders

Alternatives to USDT and USDC have existed for years, including DAI, which launched in 2017, and USDS, which exceeded $1 billion in supply within two weeks of its 2024 launch. However, the largest stablecoins have historically benefited from deeper liquidity, broader blockchain coverage and greater exchange integration, making them relatively straightforward choices for businesses and counterparties.

The competitive landscape is also changing as newer issuers introduce incentives tied to reserve income. Robinhood Chain launched on 1 July with USDG as its first natively issued stablecoin. USDG is distributed through the Global Dollar Network, which includes more than 130 partners and provides participating businesses with a share of reserve-related income. The Open USD consortium has introduced a comparable model for its partners.

“What we’re seeing is almost this cultural split,” Harborne said.

“Different countries prefer different stablecoins, different ecosystems provide different stablecoins. You’ve got a meme coin trading group that’s grown up around Robinhood that likes USDG. You’ve got European yield farmers that are using EURC stablecoins. You’ve got professional enterprises that are now using EURCV, issued by Société Générale. Each of these is kind of separated. Whereas if you can stitch them all together, all of these different groups that are each growing in stablecoin adoption just interoperate seamlessly and you get much faster growth overall,” he added.

The Smart Deposit Addresses service now supports USDT, USDC, PYUSD, DAI, USDG, USDe, USDS, USD1 and USAT among dollar-linked assets. Supported euro-denominated stablecoins include EURC, EURe, EURv and EURCV. Native ETH is currently available, while BTC, SOL, BNB and TRX are being developed. Rhino.fi said additional regional currencies can be added in response to counterparty demand, including assets linked to the Japanese yen, Brazilian real and UAE dirham.

“Not solving the problem for businesses means being siloed,” Rhino.fi’s CEO noted. “If you work with a specific stablecoin, you’re cut out from so many other ecosystems,” he said.

Euro-denominated assets are particularly important on the platform because they are also used for Rhino.fi’s onchain foreign-exchange functionality. Nine clients have requested euro assets so far this year. Stablecoins denominated in the same currency can be settled on a 1:1 basis, while cross-currency transactions are converted using prevailing market rates as part of the deposit process.

The system allows, for example, a business invoicing in euros to receive a payment made in a dollar-denominated stablecoin without requiring a correspondent bank or a separate card-network conversion.

Rhino.fi says the expanded service is infrastructure for enterprise stablecoin acceptance. Businesses set their preferred settlement policy once, while the platform handles the differences in stablecoin and network selected by counterparties, including new regional assets as they become available.

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