“Can a proprietary direct cross-border payment network spanning 140 countries and stablecoin rails become the default infrastructure layer for global money movement for banks, PSPs, and platforms?”
Thunes originated as TransferTo, a B2B mobile top-up and airtime transfer network focused on emerging markets. It rebranded to Thunes in 2019 to reflect a broader cross-border payments infrastructure mandate, building a proprietary Direct Global Network reaching 140 countries via a single API. The company acquired Tilia (virtual economy payments) to diversify into gaming and creator platforms. Most recently, Thunes has layered stablecoin (USDC) funding rails and embedded banking narratives onto its core FX/payout infrastructure, positioning as a full-stack cross-border payment superhighway for banks, PSPs, marketplaces, and neobanks.
Thunes discloses Thunes (self-operated infrastructure) as its banking provider, according to the Embedded Finance Index 2026.
Thunes does not disclose a bank charter of its own; its banking services are provided through Thunes (self-operated infrastructure).
Thunes processes payments through Thunes Direct Global Network (self-operated).
Thunes uses Thunes Direct Global Network (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 4 layers in Thunes's stack: Payments / PSP (Thunes Direct Global Network (self-operated)); Banking / BaaS (Thunes (self-operated infrastructure)); Lending (Accept BNPL Payments (aggregated BNPL provider connectivity)); FX & payouts (Thunes Direct Global Network (self-operated)).
Thunes is founded in 2016 and headquartered in Singapore.
Thunes has raised $391.9M in total (latest round: Series D, 2025).
Get a read on where your own stack stands against Thunes 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.