One workspace for accounts, payments, and treasury.
Parallel brings the three things finance teams actually do — hold money, move money, and report on money — into a single product. Built on stablecoin rails, designed to feel like the tools your team already uses.
- Atlas Studiocontractor · Mexico · MXNSettled
- Lattice Covendor · Japan · USDCSettled
- Meridian Groupvendor · Serbia · USDCIn flight
Hold USD and USDC in one place.
Every Parallel customer gets a USD account backed by an FDIC-insured partner financial institution and a USDC wallet, side by side. Move funds between them in seconds, fund payments from either, and keep your finance team working in one system instead of two.
Business account
A reliable USD operating account for incoming funds, outgoing payments, and day-to-day cash management. Funds are held at FDIC-insured partner financial institutions through our banking partner. Fund the account by ACH, send payments out by ACH, wire, or stablecoin rail, and watch balances move in real time. Pull statements and exports whenever your accounting team needs them.
USDC wallet
Hold USDC alongside your USD balance, in the same workspace. Convert between the two whenever the business needs to — at competitive rates, with no markup hidden in the conversion. USDC is the rail Parallel uses to move money cheaply and quickly across borders, but you do not need to manage wallets, gas, or chain selection. The complexity stays under the hood.
Account controls
Define how money moves before anyone tries to move it. Set deposit, withdrawal, and transfer limits at the account level. Configure approval thresholds so payments above a certain amount route to a second approver. Manage roles for your team — admin, member, view-only — so finance owns the controls and operations does the work without stepping on each other.
Send and receive money globally.
Parallel handles the full lifecycle of a cross-border payment — from adding a recipient, through scheduling and approvals, through settlement. Send to vendors, contractors, partners, or anyone else, and let the recipient receive in the form that works for them.
Global payouts
Send one USD payment from your Parallel account. Recipients in supported corridors receive local currency directly to their bank — Mexican pesos through SPEI, Colombian pesos through PSE, Indian rupees, and others as we add them. Recipients in countries we don't yet cover for fiat receive USDC to a wallet they control, which they can hold or off-ramp through their preferred local exchange. You handle the send. Parallel handles the routing.
Invoice management
Bring invoice intake and approval into the same place where payments happen. Receive invoices from vendors and contractors, route them for review, and pay approved invoices without re-keying data into a separate tool. Status, history, and audit trail live with the rest of your payment activity.
Payment scheduling
Set up recurring payment runs on your own cadence — monthly contractor payouts, weekly vendor disbursements, or a custom rhythm that matches how your business actually operates. Pause, adjust, or cancel anytime. The schedule runs against the same approval rules and limits you've already set.
See your finances clearly, close the books cleanly.
Treasury is where finance teams answer questions: where is the money, where did it go, what do we owe, what’s next. Parallel gives you those answers in real time, with the export and reporting tools your accounting team needs to close the month without a scavenger hunt.
Dashboards & analytics
Real-time visibility into USD and USDC balances, pending payments, settled payments, and the history behind every line item. Filter by recipient, corridor, status, or date range. Search the full payment history without exports. Finance teams can monitor activity as it happens; operations can answer status questions without waiting on anyone.
Currency conversion
Move funds between USD and USDC at competitive rates, instantly, without leaving Parallel. The rate is shown before you confirm, and the converted amount lands in the destination balance immediately. No external exchange, no manual reconciliation, no lost context.
Treasury reporting
Export balances, payments, and full transaction history in formats your accounting team can actually use. Reconcile against your books, hand clean reports to auditors, and pull the data your finance partners ask for without rebuilding the query each time.
Tax documents
Generate the forms your finance team needs at year-end — 1099-NEC for US contractors, 1042-S for foreign contractors — directly from the payment records inside Parallel. The data is already there; the forms come out clean.
One product, not three.
Accounts, payments, and treasury operate on the same data, in the same workspace, with the same controls. A payment sent in the Payments section reduces the balance you see in the Accounts section and lands in the report you pull from the Treasury section. Add a recipient once and they’re available everywhere. Set an approval rule once and it applies to every payment that meets the threshold.
This is the difference between a payments product with a dashboard bolted on and a finance workspace built as one thing.
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