What is the real profitable track for cryptocurrency payments?

Author: Lawyer Shao Jiadian

Everyone involved in crypto payments is asking the same question:

"What path really leads to profit?"

There are many industry stories, but few that can actually make money.

Today, I want to strip away the "mysticism" from the outside and talk about reality:

Currently, there are only three real profit-making directions in crypto payments: channels, compliance, and high-risk services. Other directions are basically powered by love.

Once you understand these three categories, you will basically know where the money flows in this industry, where the barriers are, and how you should enter the market.

Channels: The Ever-Present Primary Source of Profit (and it will get more expensive)

If you strip down the business models of all crypto payment institutions to the bone, only one question remains:

Who can deliver money to its destination the fastest, most securely, and with the least trouble?

If you can achieve this, you can charge fees, earn a spread, and gain stickiness.

(1) U ↔ Fiat Currency Deposit/Withdrawal

This is the "vascular system" of the entire industry. All Web3 projects, gaming companies, cross-border trade, and e-commerce cannot bypass this.

Why is it profitable?

High demand
High frequency
Controllable costs
Spread + fee space

Fees ranging from 0.3% to 2% are acceptable to many.

Future regulations will only become stricter, which means:

Channels will become more expensive, and the number of capable providers will decrease.

(2) Cross-Border Payments for Enterprises (Salaries, Supply Chain, Global Settlements)

An obvious trend: enterprises no longer want to distinguish between "fiat vs stablecoin"; they just want something usable, cheap, and fast.

More and more enterprises will:

Use USDT to pay global freelancers
Use USDC to pay suppliers
Even use stablecoins for partial settlements

Enterprises do not care about the blockchain; they only care about "speed, stability, and compliance."

Being able to help enterprises handle cross-border salaries and settlements is inherently a very profitable business.

(3) Bank-Level On-Chain Payments (Tokenized Deposits / Stablecoin Corporate Settlements)

Citibank, HSBC, and Standard Chartered have all issued their own on-chain "deposit tokens."

This indicates a reality:

Bank-level cross-border payments are also beginning to migrate on-chain. Seeing banks issue tokens is a signal that the industry is entering a mature phase.

The profit margins for B2B large cross-border transactions are much more stable than in the retail sector. This area will explode in the future because it truly addresses the old problems of "large cross-border payments": slow, expensive, and opaque.

Compliance: Seemingly Abstract, but This is the "True Moat" of Crypto Payments

As we move forward, it becomes increasingly clear: what is most valuable in the crypto payment industry is not "technology," but "compliance capability."

Many enterprises do not want to spend a year and a half applying for licenses, nor do they want to bear the risk of rejection, so they choose to:

"Rent" others' licenses, structures, KYC systems, and risk control systems.

This is "License as a Service."

Commonly available compliance capabilities for rent include:

US MSB
Hong Kong VA1 token brokerage interface (omnibus)
Singapore MPI+DPT
EU CASP
Cayman VASP
UAE virtual asset light license
Hong Kong/MSO fiat gateways (not involving U)

The demand logic is simple: rather than spending a year applying for a license, it is better to integrate in a month.

The profit structure for these services is long-term stable:

Fixed monthly fees + per usage fees.

Essentially, it is a subscription service selling "compliance capabilities."

Risk: Highest Profit, but Not Everyone Dares to Do It

Any service that "banks do not like to do but the market needs" has high profits. Such businesses generally start with fees of 3%–10%, but you must take on all responsibilities for KYC, risk control, chargebacks, and being "greeted" by banks.

For example:

NFT and blockchain game project payments
Computing power projects
High-risk content websites
Cross-border e-commerce in certain countries
Node staking / mining machine businesses
Game top-ups
AI content charging platforms

Fees can easily reach 3%–10%.

The reason is simple:

Conventional institutions do not dare to engage, and those who do can charge a premium.

However, this type of business faces significant risk control and compliance pressure, and without experience, it is easy to fail.

The Three Most Certain Growth Tracks in the Next Three Years

I summarize the most obvious trends in the industry into three statements:

1. Enterprise-Level Stablecoin Cross-Border Payments Will Become the Next Billion-Dollar Market

USDC/EURC/tokenized deposits will fully explode this year.

Citibank, Standard Chartered, and HSBC have already announced their entry.

Whoever can help enterprises run stablecoin cross-border settlements will seize the largest piece of the pie in the next three years.

2. On-Chain Payroll (Crypto Payroll) Will Move from the Margins to the Mainstream

Traditional payroll systems struggle with cross-border payments + stablecoins.

Web3 project teams and AI companies hiring globally will turn on-chain payroll into a daily system requirement.

This area will eventually produce a "Deel for on-chain compensation."

3. The Combination of Licenses + Structures + Interfaces Will Continue to Be Strong

The past model of "each finding their own suppliers" is disappearing.

Now, enterprises are more willing to directly purchase: structural design, compliance systems, KYC/AML, complete document packages, and a functioning channel (MSB, VA1, MPI, CASP, etc.)

Enterprises are willing to pay for this "end-to-end solution from design to execution." This is a long-term stable and continuously growing direction.

How Should Bosses Enter the Market?

In one sentence:

Choose the category you can handle; do not try to cover all three.

If you have channel resources → focus on channels
If you have local entities and risk control capabilities → sell compliance
If you have scenarios and merchants → engage in high-risk payments
If you have nothing → start with "helping enterprises run stablecoin payments"

This industry makes money not through hype, but through solid execution capabilities.

If You Are Ready to Enter Crypto Payments, What Services Can I Provide?

Many bosses will ask:

"What specific help can you provide if I engage in crypto payments?"

I summarize the core services we have been providing in Web3, payments, U cards, and stablecoin projects, all of which are "practical and usable":

(1) Help you design a business model that "regulators can accept"

Can your business be done?
Which aspects should not be touched?
How to design to avoid crossing the red line?
How to get banks to accept your structure?
How to connect with brokers, PSPs, VATPs?

(2) Help you build a cross-border structure (Hong Kong / Singapore / BVI / Cayman / EU)

Should you apply for a license? Which one?
Where to establish the entity? How to layer it?
How to isolate risks and smooth the capital chain?
How can the structure meet both commercial and regulatory needs?

(3) Help you complete the entire set of compliance documents

Including but not limited to:

User agreements
Merchant agreements
Privacy policies
AML/KYC policies
Risk control systems
Internal control systems
Cooperation agreements for issuing cards / acquiring / channels
Complete documentation required for bank / broker / platform connections

These are key to whether an enterprise can operate smoothly.

(4) Help you truly connect with banks, brokers, VATPs, and channel providers

Not conceptually, but practically:

How does an MSB open a bank account?
How does a Hong Kong MSO connect for payments?
Can VA1 provide you with an omnibus model?
How to ensure stablecoin deposits and withdrawals follow the proper route?
How to achieve compliant landing for USDC → fiat?

(5) Help you design stablecoin payment / on-chain payroll solutions

Including:

How to pay global employees with USDC
How to ensure enterprises conduct stablecoin settlements "without crossing the line"
How to integrate on-chain payments into your actual business scenarios