Xsolla
“Can a gaming-specific merchant of record become the embedded financial OS for the entire video-game creator economy — payments, payouts, wallets, cards, BNPL, and tax — at every layer of the stack?”
Founded 2005 in Perm as 2Pay, Xsolla relocated to LA in 2010 and rebranded a year later to become a gaming-specific commerce platform centered on its Pay Station merchant-of-record product. Since 2024 the company has been layering embedded finance on top of payments — launching Xsolla Wallet, the Xsolla Money Account with a Xsolla Cash Mastercard for creators, and in 2025 launching a Payment Service Provider model in partnership with Adyen so studios can be their own MoR. The strategic shift is from being THE merchant of record to also being the infrastructure layer behind studios who want to own merchant economics themselves.