Ramp, a corporate card and financial operations platform, will expand its issuing partnership with Stripe, a programmable financial services company, to launch stablecoin-backed corporate cards with fully integrated spend management software.
Businesses today face massive hurdles moving money internationally: Payments routinely take five or more business days to settle, each transaction can cost $50 or more in fees, and unpredictable currency swings — such as Argentina’s peso losing nearly 50% of its value since late 2023 — create significant financial risk for companies with a global footprint. Additionally, issuing corporate cards internationally is notoriously complicated, with cumbersome country-specific regulations and payment rail variations causing delays and frustration.
Ramp and Stripe’s stablecoin-backed corporate card features include:
- Fund: Businesses can fund a wallet with Ramp using local currency, which is converted to stablecoin, or by depositing stablecoins directly.
- Transact: Card purchases work as standard local payments. The cardholder pays in their local fiat currency, and the merchant receives fiat currency.
- Protect: Funds are held in dollar-equivalent value, shielded against local currency devaluation.
- Simplify: With Ramp’s corporate card, businesses can also access Ramp’s full suite of spend management and financial automation tools globally.
“Ramp believes in not just responding to industry trends but creating the future itself,” said Subham Agarwal, director of product and head of product marketing at Ramp. “The product we are developing in partnership with Stripe is about improving how businesses spend globally, empowering our customers everywhere with a radically simpler and more stable way to transact across borders. We saw the pain our customers experience from inefficiencies in international finance, and are working hard to fix it.”
“By working with Stripe to extend Ramp’s platform to previously unreachable markets, businesses in emerging economies will gain access to the same advanced financial tools that have helped over 30,000-plus U.S. companies save billions of dollars and millions of hours,” the companies said in a joint statement. “This combination of stablecoin-backed cards and Ramp’s powerful financial platform will accelerate business growth and commerce in regions that need it most.”
The integration enables the issuance of new card programs in multiple countries at once, starting with select 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. Availability will expand to countries in Europe, Africa and Asia thereafter.
