Case Study

Building Compliance Infrastructure for Stablecoin Payments

  • Background

    ‍    Parallax set out to solve a persistent problem facing freelancers relying on international payments: high fees, slow processing, and confusing user experiences. The vision was to build a stablecoin-based platform to streamline cross-border transactions. Parallax engaged FS Vector to navigate the complex and evolving regulatory landscape for digital asset payments.
  • Approach

    ‍    Our team provided comprehensive regulatory compliance strategy across multiple dimensions. We advised extensively on MSB registration and license requirements, which represented a major component of the engagement, helping the team understand which frameworks applied to their stablecoin payment model. This included supporting vendor search, diligence, and contract negotiation to ensure compliance-readiness across all partners.

    We developed tailored policies and procedures that operationalized compliance while allowing the company to maintain its innovative edge. As the platform evolved, we guided Parallax through decisions around geographic expansion and new product features, assessing regulatory impact at each stage. We also identified and vetted regtech partnerships that could scale alongside the business, ensuring compliance operations kept pace with growth.
  • Outcome
    FS Vector's partnership enabled Parallax to launch with a robust compliance framework that gave them confidence in regulated markets. Parallax would not have been able to confidently launch a compliance solution without this foundation, which was critical to establishing trust and readiness for future growth. We helped the team transition to independently register as an MSB, build and manage its own compliance operations, and migrate from relying on partner programs to operating its own scalable compliance infrastructure. This framework allowed Parallax to focus on product development and customer acquisition while managing regulatory risk effectively across jurisdictions.
  • Impact
    On June 18, 2025, Parallax announced a merger with Phantom, a leading crypto wallet. The successful merger validated both Parallax's product vision and the solid compliance foundation that made them an attractive partner in the competitive and rapidly consolidating stablecoin payments space.

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Mika Reyes, Founder and CEO