“Can a licensed MSB crypto payments app become the embedded crypto infrastructure layer for banks, credit unions, and third-party wallets via a compliant Crypto-as-a-Service API?”
Metal Pay was founded as a blockchain-based payments and rewards wallet under parent company Metallicus, Inc. Over time it evolved from a consumer crypto payment app into a broader crypto infrastructure play, launching Metal X (a decentralized exchange on XPR Network), Metal Pay Connect (an on-ramp API for third parties), and a B2B Crypto Banking API targeting banks and credit unions. The company operates as a licensed money services business (MSB) in the US, positioning itself at the intersection of regulated crypto payments and embedded crypto infrastructure.
Metal Pay discloses Evolve Bank & Trust as its banking provider, according to the Embedded Finance Index 2026.
Metal Pay does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
Metal Pay processes payments through Metal Pay (self-operated).
Metal Pay uses unit21 for KYC and identity verification.
The Embedded Finance Index 2026 maps 4 layers in Metal Pay's stack: Payments / PSP (Metal Pay (self-operated)); Banking / BaaS (Evolve Bank & Trust); Lending (Metal X Lending); KYC (unit21).
Metal Pay was founded by Marshall Hayner and is headquartered in 660 4th Street, Suite 107, San Francisco, California 94107.
Get a read on where your own stack stands against Metal Pay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.