Stripe Eyes Stablecoin Integration—Banks Now on Speed Dial

Payments giant Stripe is reportedly in talks with major banks to weave stablecoins into its infrastructure—because nothing says ’innovation’ like begging permission from legacy gatekeepers.

The move signals a cautious embrace of crypto after Stripe axed Bitcoin support in 2018. Now, with regulators breathing down their necks, they’re playing nice with the very institutions blockchain was meant to disrupt.

Watch this space: if successful, Stripe could become the first fintech to successfully straddle both TradFi and DeFi worlds—or die trying.

Stripe’s stablecoin ventures

Stripe recently acquired stablecoin platform Bridge for $1.1 billion. Bridge, which now operates under Stripe, has launched its own stablecoin, USDB, and partnered with Visa to offer a global card that lets users spend stablecoins like fiat. 

Stripe also introduced stablecoin accounts in over 100 countries.

Competitors including PayPal, Visa, and FIS are making similar moves, and regulators in the US, UK, and EU are weighing new frameworks. 

Collison warned that London risks falling behind if the UK doesn’t act swiftly on regulation, noting that companies will take their business elsewhere in search of clearer rules.

Stripe serves over 1 million businesses in the UK, including 45% of FTSE 100 companies, and is expanding its stablecoin-focused teams globally.