The CEO of WalletConnect Pay, Jess Houlgrave, is optimistic about the potential for cryptocurrency payments to gain traction in mainstream commerce. In a recent interview, she highlighted the growing infrastructure that aims to make digital currencies more usable at checkout. Houlgrave emphasized that the journey toward adoption has been hindered by a fundamental misunderstanding of the components necessary for effective payments.
“People conflate what settlement is and what a payment is,” Houlgrave noted during her discussion on PYMNTS TV. She explained that while blockchains excel at settling and transferring value, the additional complexities of payment processing—such as authorization, capture, refunds, and disputes—are not adequately supported by current blockchain ecosystems. This gap, which she describes as the “messy middle” of payments, has contributed to the slow advancement of crypto payments beyond experimental phases.
Stablecoins and Integration with Traditional Systems
Stablecoins have emerged as the most practical cryptocurrency for transactions, particularly as digital wallets increasingly connect to traditional payment networks. Houlgrave pointed out that numerous crypto wallets now integrate with Visa and Mastercard, resulting in a significant surge in transaction volumes. For instance, in December 2025, card-based stablecoin transactions reached approximately $500 million, reflecting rapid growth in a sector still considered small relative to global payment volumes.
Despite this progress, these transactions continue to rely on established card networks. WalletConnect Pay aims to shift more of these transactions onto cryptocurrency rails, allowing users the flexibility to pay with the wallets and assets they trust, free from concerns about blockchain specifics.
Navigating Fragmentation and Regulatory Challenges
The current fragmentation within the cryptocurrency sector presents a significant challenge. “Crypto is super fragmented,” Houlgrave stated, noting the existence of numerous blockchains, wallets, and digital assets, including hundreds of stablecoins launched daily. This disarray complicates operational and regulatory compliance for merchants eager to adopt crypto solutions.
WalletConnect Pay seeks to maintain consumer choice while standardizing aspects that are crucial for regulatory bodies. Houlgrave stressed the need for standardization in information capture, privacy, and data sharing to address regulatory concerns.
A key objective for WalletConnect is to shield merchants and payments companies from the complexities of the cryptocurrency landscape. “The payments company and the merchant shouldn’t even need to know about any of this stuff,” Houlgrave remarked. “They should just be able to serve this as an offering.” WalletConnect positions itself as an orchestration layer, managing compliance, sanctions screening, and off-ramping, thereby alleviating the burden on businesses.
Partnership with Ingenico for In-Store Transactions
This philosophy underpins WalletConnect’s recent partnership with Ingenico, which enables stablecoin payments at physical checkouts using Ingenico’s Android payment terminals. Merchants can accept supported stablecoins without the need for new hardware or maintaining digital currencies on their balance sheets. According to Houlgrave, “What we’re doing with WalletConnect is trying to be that messaging layer that sits alongside the settlement.”
The collaboration leverages WalletConnect’s extensive network, which connects over 700 wallets and serves more than half a billion crypto users. In 2025, the network facilitated over $400 billion in transaction volume, including substantial stablecoin transactions. Ingenico’s global presence enhances WalletConnect’s capabilities, allowing crypto payments to expand beyond eCommerce and into everyday retail transactions.
Future Roadmap and Consumer Adoption
Recognizing that most merchants are hesitant to hold stablecoins, WalletConnect is developing solutions to address this concern. The company plans to manage the conversion between cryptocurrency and fiat, ensuring that refunds can be processed with timing similar to conventional card transactions. Houlgrave indicated that near-instant refunds are part of the company’s future roadmap.
As more banks and neobanks begin to allow customers to hold stablecoins directly, Houlgrave anticipates accelerated adoption. “Even some very established old banks are really getting their heads around this,” she said. The overarching goal is to provide consumers with the ability to use stablecoins both in-store and online, ultimately bridging the gap between traditional and digital payment methods.
This strategic focus on scalability and usability positions WalletConnect Pay as a significant player in the evolving landscape of cryptocurrency payments.
