Ramp and Stripe Launch Corporate Cards Fueled by Stablecoins—Banks Grind Their Teeth
Finance giants Ramp and Stripe just dropped a bombshell: corporate cards backed by stablecoins, cutting traditional settlement rails out of the equation. No more waiting for wire transfers—just instant, borderless spending powered by crypto’s least volatile assets.
Why it matters: This isn’t just another crypto gimmick. It’s a direct shot across the bow of legacy finance, with companies now able to bypass banking delays and FX fees. The irony? Banks will still cash the checks when these firms convert profits back to fiat.
The fine print: Volatility fears? Stablecoins like USDC anchor the system, but regulators are already circling—because nothing triggers the SEC like innovation that works too well.
‘Built-In Protection From Local Currency Volatility’
Per the announcement, the companies have worked to combine Stripe’s stablecoin-backed cards and Ramp’s financial platform to boost business growth and commerce. This is particularly the case for the regions where this approach is the most necessary, they add.
Therefore, the card is a solution for the above mentioned pain points. The companies claim that it provides fast settlements, lower fees, offering businesses dramatically faster settlements, lower costs, built-in protection from currency volatility, and easy card issuance.
Moreover, businesses can fund a wallet using local currency to convert it to stablecoins, or they can deposit stablecoins.
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On the other hand, cardholders will pay in their local fiat currency, which the merchant will receive as well.
Additionally, when it comes to the above-mentioned built-in protection from currency volatility, the companies explain that funds are held in dollar-equivalent value to protect against devaluation.
Moreover, the new card is available in several countries, starting with certain Latin American markets. “The focus on Latin America aims to address the growing demand for businesses to utilize stablecoins to store value and fund purchases.”
The partners will expand availability to Europe, Africa, and Asia, they say.
Meanwhile, Ramp was founded in 2019. It says that it has over 30,000 customers across industries who have saved $2 billion and 20 million hours by utilizing its services, as it enables “tens of billions” in purchases annually.
Stripe recently introduced a new financial tool called Stablecoin Financial Accounts. It enables companies in 101 countries to hold and transact in stablecoins, allows businesses to receive funds via both crypto and fiat rails, hold balances in digital dollars, and send stablecoins globally.
It followed Stripe’s $1.1 billion acquisition of the stablecoin infrastructure firm.
“You “Stripe Ramp, a US-based corporate card and financial operations platform, announced the expansion of its partnership with financial services company Stripe to launch the “industry’s first stablecoin-backed corporate cards with fully integrated spend management software.” According to the press release, the two companies aim to make cross-border transactions easier and faster compared to the solutions businesses have had so far. They highlight four major issues businesses are facing at the...