From the outside, this week might have looked quiet.
No invoices flowing through Flash yet. No screenshots of transactions. No big “we’re live” moment to point to.
But internally, this is exactly the stage where most of the real work of treasury infrastructure happens.
When businesses say “we’re in,” there’s still quite a bit that needs to happen before the first payment can actually move. Compliance needs to clear, payment rails need to be fully wired up, and the surrounding product needs to be reliable enough to handle real revenue.
This week was mostly about that.
A New Business on the Waitlist
We added one new business to the waitlist this week.
It’s a media and events company based in Kansas City that operates under Bitcoin Party KC and produces events like the Bitcoin Block Party and the Kansas City Bitcoin Summit.
The founder had actually used Flash previously when we were focused purely on Bitcoin payments. At the time it didn’t really make sense for his business to go live because most of his clients pay in fiat, so a Bitcoin-only setup wasn’t particularly useful.
Now that Flash is evolving toward treasury infrastructure built on top of both fiat and Bitcoin flows, the conversation changed.
Part of the motivation is practical. But part of it is also alignment. He wants to grow his brand alongside the Bitcoin ecosystem and sees working with us as something that can be mutually reinforcing as both businesses develop.
That kind of partnership matters a lot more than just adding users to a list.
The Reality of KYB
Right now three businesses are going through KYB.
One of them cleared almost immediately because they were already onboarded with Maverick, the payments infrastructure we’re integrating with. Since the compliance layer was already in place, there was nothing additional required.
The others are moving through the standard process.
In most cases it’s straightforward document collection, but sometimes it gets a bit more nuanced. One business was asked to provide login access to their platform so compliance could verify the legitimacy of the activity. In another case the team asked for account statements, which the founder pushed back on.
None of this is unusual. KYB always looks simple when you draw the flow on a whiteboard, but in practice every business has its own structure and edge cases.
Most of these clearances should be completed next week, with one social platform business possibly taking a bit longer simply because their activity requires a closer look.
Tightening the Product Before Money Flows
While KYB is happening, the product itself is getting tightened up.
This week the team focused on a few things that don’t look particularly flashy from the outside but become critical the moment real money starts flowing through the system.
Invoice messaging has been improved so businesses can send proper invoice emails with customizable templates, as well as CC and BCC recipients. That sounds small, but it matters when invoices are part of real client workflows.
We also made significant improvements to payment tracking and reporting so operators can see clearly what happened to each invoice.
More importantly, we implemented full audit logging across the system. Every action, whether triggered automatically or manually, is now recorded. If a user marks an invoice as paid because it was settled outside of our payment rails, the system logs who did it and when.
For treasury infrastructure this level of traceability isn’t optional. It’s necessary to ensure that the system is accurate, compliant, and auditable once real businesses rely on it.
Wiring Up the Payment Rails
A lot of the engineering work this week also focused on the Maverick integration.
Instead of redirecting users to an external payment page, we’re embedding Maverick’s hosted fields directly into the Flash interface. That allows the payment experience to remain inside Flash while still relying on Maverick for the underlying rails.
ACH payments have been set up, credit card payments are the last piece we still need to fully test.
Once this integration is complete, Flash invoices will support:
- Bitcoin on-chain
- Lightning payments
- ACH transfers
- Credit card payments
All within the same invoice flow, with full visibility into what settled and when.
At that point the rails are in place and the first invoices can start flowing.
Finding the Right Businesses
Alongside product work, I’ve also been spending a lot of time building the pipeline for the next cohort of businesses.
This is not a fast process.
Right now it mostly involves going through my LinkedIn connections one by one and identifying founders and operators whose businesses might actually benefit from treasury infrastructure. AI helps automate some of the research, but the outreach itself is still very manual.
The conversations that get the most traction tend to come from people who either already hold Bitcoin on their balance sheet or work with businesses that do. Another strong signal comes from operators connected to companies like River, where Bitcoin treasury thinking is already present.
One conversation this week was particularly interesting: a company I spoke with had just set up with River, so Flash wasn’t something they needed right now. But what they highlighted was what they appreciate most about River’s product: the simplicity.
They can easily generate Bitcoin addresses to send and receive BTC, and they can connect their bank account through Plaid to move funds in and out.
In other words, the value wasn’t some complex treasury automation. It was simply having Bitcoin and fiat rails sitting next to each other in a clean operational workflow.
That insight reinforces what we’re building toward, but inside the invoicing and revenue flows businesses already rely on.
Why the First Payments Take Time
We already know there are businesses ready to start invoicing through Flash. Some of them are essentially waiting for the system to go live.
Realistically, the first invoices should start flowing around mid-March. At this point the main remaining piece is finalizing the Maverick integration so fiat payments work as expected alongside Bitcoin.
Once that’s complete, the rest of the system is already in place. And that’s when the real learning begins. Because treasury infrastructure doesn’t get validated by demos or screenshots.
It gets validated when real businesses run real revenue through it.
What Comes Next
Next week should bring two important milestones:
- Most KYB processes should clear
- And the Maverick payment integration should be ready
Once those pieces are in place, the first invoices can start flowing through the system. That’s when the next layer of insight will emerge around settlement visibility, reporting, and eventually treasury allocation.
Treasury is the product. Payments are the rails. Right now we’re finishing the rails. The money comes next.