Ecosystem Update - May 2025
Alex Stoicescu
Jun 12, 2025
4 min.
Greetings, Request Network community!
Welcome to the Request Network ecosystem update for May 2025. The Ecosystem Update focuses on protocol usage and our vision to build an ecosystem of decentralized apps for payment requests.
The current ecosystem built around the Request Network protocol includes the following active builders: Animal Social Club (donation platform), intrXn, 0 Finance (formerly known as Hyprsqrl), Allora, and Request Finance (invoicing, payments, and payroll). If you’re interested in what we are building and want to share your vision with us, don’t hesitate to book a demo or apply to our grants program.
Tech update
May was a feature-packed month for Request Network! We're thrilled to announce several significant enhancements to our platform, making managing your crypto and fiat transactions even easier!
Seamlessly Convert Crypto to Fiat
We're excited to launch Crypto-to-fiat payments! This powerful new feature, available in the Request Network API and showcased in our EasyInvoice demo app, allows payees to receive fiat currency directly in their bank accounts, even when payers settle invoices in cryptocurrency.
Here’s how it simplifies your transactions:
Effortless Offramp: Payers send crypto, and our system, in collaboration with Request Tech, handles the swap and fiat deposit into the payee's bank account.
Streamlined Compliance: We've integrated a straightforward process for Payer KYC (Know Your Customer) and agreement signing.
Verified Bank Accounts: Payee bank accounts are validated to ensure smooth and secure fiat settlements.
Get Started Today: Developers can immediately access the Crypto-to-fiat Sandbox via the Request Network API Portal to build and test this integration using Sepolia testnet USDC, simulated KYC, and mock bank accounts.
Ready for Production? When you're set to go live with real transactions, book a call with us to discuss your use case and get production access.
For more details, check out our Crypto-to-fiat Payments documentation.
Introducing Request API V2
We've officially released Version 2 of the Request Network API! This upgrade brings significant improvements, including changes to path parameters (`requestId` instead of `paymentReference`), enhanced validation, more detailed error responses, and a more standardized API structure.
While V1 will continue to be supported for a transition period, we encourage developers to migrate to V2 to take full advantage of the latest features and improvements.
Check out the migration guide for a comprehensive overview of the changes and a step-by-step plan.
Now Supporting Partial Payments
Flexibility is key in payments, so we've introduced Partial Payments. Senders can now make multiple smaller payments towards a single request, which are automatically tracked and aggregated. This is particularly useful for larger invoices or when payers prefer to settle dues in installments. The request balance is automatically updated, reflecting all partial payments made.
Request Network API now comprehensively supports partial payments, offering greater flexibility across all payment types, including direct payments (Native, ERC20, and Conversion), crosschain payments, and crypto-to-fiat payments. When a payer remits an amount less than the total due, the system identifies this as a partial payment, updates the request's status, and dispatches corresponding webhook notifications.
For details, see our payment endpoints in our OpenAPI Reference. Note that they both include the `amount` parameter.
https://api.request.network/open-api/#tag/v2request/GET/v2/request/{requestId}/pay
https://api.request.network/open-api/#tag/v2payouts/POST/v2/payouts
Enhanced Webhook Notifications and Status Updates
We've rolled out significant improvements to our webhook notifications and the request status endpoint:
Intermediate Transaction Details: Get more granular insight into your payments, especially for cross-chain transactions. Webhooks and status updates now include details about a payment's intermediate steps, providing greater transparency.
Failed and Refunded Webhooks: Stay informed with new, dedicated webhooks for `payment.failed` and `payment.refunded` events. This allows for quicker and more automated handling of payment exceptions.
New API Endpoint for Currency Information
To help developers build more robust integrations, we've added new Currency Endpoints to the Request Network API. These endpoints provide up-to-date information on supported currencies and their details, simplifying currency management within your applications.
For details about the new /currencies endpoint, see our OpenAPI Reference.
Highlights from May
Offsite in Porto
Our first offsite in 2025 took place in Porto, home to two of our teammates, Francisco and Mariana. We have spent four beautiful days discussing strategy for 2025 and beyond, internal communication upgrades, protocol design, metrics that make sense, and other topics.
Some of us were visiting Porto for the first time, so we snapped a team photo next to the famous Ponte Luis (David and Aimen couldn’t make it in person, unfortunately). We also had some classic team-building fun by trying out the local francesinhas and setting new records for escape rooms.
Protocol metrics in May
Let’s start by sharing an update on how we measure success. Transaction count was our default metric, but it didn’t tell the whole story. It included everything: invoice creation, approval, and even rejection. That noise masked what really matters, which is payments.
So, we’re introducing a cleaner and more meaningful metric: number of payments. This change aligns with what businesses care about: accurate payment detection and real transfers. It also helps the community and us track how the protocol is growing.
The above visual shows the transaction count (a transaction can be an invoice creation, approval and/or rejection) and the number of payments (wallet-to-wallet transfers, with or without a created request) for May 2025.
ABOUT REQUEST NETWORK
The Request Network Foundation’s mission is to reinvent accounting and finance by creating a decentralized network of interoperable apps that promote transparency and real-time reporting.
We inspire and educate developers, partners, and authorities to use Request Network and build an open-source, seamless, and interoperable financial ecosystem.
We’re building a network that connects businesses worldwide, giving them ways to do business at the speed of the internet.
Be a part of tomorrow’s financial revolution.
