Privacy-first stablecoin neobank Zoth and regulated digital asset infrastructure company Bakkt have officially signed an MOU to establish a strategic partnership framework.
The partnership directly combines Bakkt’s comprehensive US licensing stack with Zoth’s established emerging-market payment corridors and last-mile infrastructure. By joining forces, the two companies aim to provide enterprise money transfer operators (MTOs) with a fully compliant route to move stablecoin-based cross-border payments at scale.
Bridging the compliance gap
While the foundational infrastructure for stablecoin cross-border payments already exists, regulatory compliance has historically acted as a major blocker for large MTOs and financial institutions requiring global coverage. Under the new MOU, Zoth will officially operate as an Authorized Agent within the licensing structure of Bakkt Financial Solutions I, LLC.
This integration grants Zoth’s enterprise MTO pipeline access to a US-licensed counterparty, providing the structural compliance advantage necessary to clear regulatory gates and close enterprise deals.
Bakkt Financial Solutions I, LLC brings a robust suite of regulatory credentials to the table, which includes:
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Pan-US Money Transmitter Licenses.
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The New York BitLicense, which is widely considered the most stringent and comprehensive digital asset licensing regime in the United States.
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Federal registration under the Bank Secrecy Act as a FinCEN Money Services Business (MSB).
Targeting high-volume remittance corridors
While Bakkt provides the necessary regulatory framework, Zoth delivers the operational depth, local partnerships, and platform infrastructure required to move money efficiently across the Global South. The partnership specifically targets some of the highest-volume payment flows globally, bridging US-licensed digital asset infrastructure with major emerging market corridors.
Together, the firms will cover major remittance routes, including:
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USA to South Asia: Recognized as the single largest remittance corridor globally and a primary growth market for US-licensed payment operators.
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UAE to South Asia: The largest remittance corridor operating within the entire Middle East.
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USA to the Middle East: A high-growth corridor that serves the Gulf Cooperation Council’s (GCC) large expatriate workforce base.
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USA to the Philippines and Nigeria: Ranked among the highest-volume US outbound corridors globally.
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Sub-Saharan Africa: Encompassing key markets such as Uganda, Kenya, Nigeria, Ghana, and South Africa.
Scaling to $1billion
Currently, Zoth boasts $300million in annualized Total Payments Volume (TPV) and has already sold over $75million in yield products. Backed by prominent investors including SOSV, Taisu Ventures, Borderless Capital, and the Blockchain Founders Fund, Zoth is leveraging the Bakkt partnership to scale its TPV to $1billion annually.
Pritam Dutta, co-founder and CEO of Zoth, highlighted the immediate industry impact of the collaboration.
“Stablecoin infrastructure is ready,” Dutta stated. “What large institutions have been waiting for is the regulatory configuration that gives them confidence to sign. By combining Bakkt’s US licensing stack with Zoth’s payment infrastructure and on-the-ground market operations, we are creating a template for how cross-border payments in the Global South move from pilots to production at scale.”
Dutta noted that the strategic partnership ultimately benefits every enterprise partner that has been waiting for a compliant, credentialed solution built for active operation.
