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Stripe Advances into Stablecoin Market with New Dollar Product for International Firms
Stripe Advances into Stablecoin Market with New Dollar Product for International Firms
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Payments giant Stripe is making a strategic push into the stablecoin sector, developing a USD-denominated product tailored for businesses outside the US, UK, and EU. The initiative leverages Bridge, a stablecoin payments platform acquired for $1.1 billion in October 2024, which bypasses traditional banking channels like SWIFT for cross-border transactions.
CEO Patrick Collison revealed the decade-long gestation of this project in a social media announcement, noting the commencement of pilot testing. The acquisition of Bridge—founded by ex-Coinbase executives—signals Stripe’s intent to capitalize on regulatory approvals and the growing institutional demand for crypto-native settlement rails.
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