Launch · Financial Services

Pine Labs plans stablecoin card infrastructure launch

What they do

Pine Labs provides payment gateways, POS machines, and fintech solutions to banks and merchants

The company plans to launch stablecoin-backed prepaid card infrastructure for global markets, announced by CEO Ambrish Rau

It turned profitable in Q4 FY26 with a net profit of ₹59.4 crore, despite revenue missing estimates

Pine Labs plans to launch infrastructure for stablecoin-backed prepaid cards in global markets.
CEO Ambrish Rau announced the plan during the Q4 FY26 earnings call.
The infrastructure targets banks and financial institutions.
Cards will enable P2P and merchant payments along with bulk remittances.
Pine Labs earns on a per transaction basis from the stablecoin card infrastructure.
The CEO highlighted the opportunity in programmable money, allowing stablecoins restricted to certain transactions.
The infrastructure platform is fully ready for stablecoin-based accounts or wallets with prepaid cards carrying Visa or Master logo.

Pine Labs turned profitable in Q4 FY26 with a net profit of ₹59.4 crore.
Revenue grew 14.7% YoY to ₹700.5 crore in Q4 FY26.
The company maintained its FY27 revenue growth guidance of 21%-23.5%.
International business is performing well despite geopolitical tensions and slowdown in West Asia.
AI agents now account for 89% of code generated.

Pine Labs provides POS machines, payment gateway, and fintech solutions.
It serves industries including retail, health & wellness, education, consumer electronics, and airlines.
Products include in-store payments, affordability solutions, UPI, and dynamic currency conversion.
Online payments include payment gateway, affordability suite, payment links, and tokeniser.
Cross-border payments include prepaid brand wallet, gift cards, refunds, and forex cards.
Credit processing includes Bharat Connect Switch, UPI Setu, and co-branded credit cards.
Fintech infrastructure includes BharatConnect (BBPS), UPI collections, and account aggregator.
Presence in India, Malaysia, UAE, and US.
Website offers free tools like GST calculator and EMI calculator.

Launch stablecoin-backed prepaid card infrastructure in global markets.
Unveil two new AI-powered products at Mumbai Tech Week on May 29 and 30.
Launch employee benefits programme over the next few weeks and quarters.
Maintain FY27 revenue growth guidance of 21%-23.5%.
Double down on global markets, especially South East Asia, Africa and West Asia.

Morgan Stanley (analyst) — Gave a 'maintain equal-weight' or hold rating with target price of ₹245.