Global Settlement Network, a Miami-based company, closed an $11 million pre-seed financing round last spring. A profile of CEO and cofounder Ryan Kirkley, 32, says the company has a valuation of more than $100 million.
The company helps banks and other regulated institutions in developing countries move assets across borders through digital currency and tokenized assets, using stablecoins.
Kirkley says he wants legislation that catches bad actors while letting founders build a business without unintentionally breaking a law.
The Florida angle
Global Settlement Network employs 20 people, including about a dozen in Miami.
The profile says Florida became the first state to pass a stablecoin regulation law. The federal GENIUS Act, passed in July 2025, applies to businesses with more than $10 billion in outstanding stablecoins and allows states to regulate issuers below that. It is not likely to take effect before January, as agencies write rules.
Also passed: Bitcoin-kiosk fraud protections and a stablecoin payment option for certain state fees. Direct state investment in Bitcoin did not pass. Federal approval of Florida's framework and final federal rules remain unresolved.
The article says the federal law and the state statute could significantly expand the stablecoin market.