Financial infrastructure Fintech Stripe, the $70 billion online payment processing firm, has announced a new stablecoin product powered by Bridge, a startup it acquired for $1.1 billion in October 2024.
The initiative, shared by Stripe CEO Patrick Collison on X, marks the company’s expansion into cryptocurrency-based financial services.
We've wanted to build this product for around a decade, and it's now happening. https://t.co/zK9dADvGhG
— Patrick Collison (@patrickc) April 25, 2025
This product, which has reportedly been in the works for a long time, targets companies based outside the US, EU, and UK, offering them access to dollar-based transactions.
Stripe is now inviting eligible businesses to join the testing phase, signaling its intent to refine the offering through real-world feedback before a broader rollout.
Stablecoins, digital tokens pegged to stable currencies like the US dollar, aim to provide a reliable medium for transactions, especially for cross-border payments—a persistent challenge for businesses in regions with limited dollar access.
This move comes at a time when emerging markets are grappling with currency conversion issues and banking limitations.
By leveraging stablecoins, Stripe aims to simplify these transactions, reducing dependency on intermediaries like Wise, which imposes annual USD receiving limits on certain transfers.
The company reportedly supports tax collection in 57 countries and recently launched the Invoice Preview API, as announced at Sessions 2024 on its website.
Its focus on modularity is evident in recent updates to Stripe Connect, which introduced 17 new embedded components for payments, suggesting that the stablecoin product may offer customizable features for businesses.
This aligns with industry trends, as major players increasingly adopt blockchain solutions.
The stablecoin initiative could significantly benefit e-commerce businesses using Stripe for USD payments, particularly in emerging markets.
By enabling dollar access through stablecoins, Stripe may help companies bypass traditional banking hurdles, such as the need for a US bank account for non-US entities—a solution previously involving banks like Wells Fargo and Citibank.
Additionally, this product could address specific pain points, like the $10,000 per customer limit on Stripe Crypto + Connect.
Stripe’s move positions it as a potential leader in the stablecoin market, competing with firms like PayPal, which also supports multiple currency options for verified business accounts.
The timing is notable, with growing global interest in stablecoins and events like Permissionless, a major crypto conference in New York from June 24-26, 2025, being suggested as a launch platform by an X user (but no official confirmation as of yet).
As Stripe continues to innovate, this stablecoin product could enhance how businesses in emerging markets access and transact in dollars.