On May 7, Stripe announced the launch of a new feature that allows platform clients to send, receive, and hold balances in stablecoins.
Features of the New Service
The new service supports USDC from Circle and USDB from Bridge. Accounts are managed by Stripe's subsidiary, Bridge, allowing users to deposit funds through various channels and withdraw them to bank accounts or crypto addresses. The service will be available in 101 countries, including Argentina, Chile, Turkey, Colombia, and Peru. Stripe also plans to launch a Visa card denominated in USDC.
Role of Bridge in the Ecosystem
Bridge is a stablecoin platform acquired by Stripe in October 2024 and plays a crucial role in this launch. It not only issues USDB but also ensures compliance, custody, and liquidity for the service. USDB is a closed-loop stablecoin used only among designated partners. Its stability is backed by equivalent cash and short-term money market funds held by BlackRock.
Impact on the Crypto Industry
The launch of stablecoin services by Stripe could lead to significant changes in the crypto industry in several areas, including the shift from speculative use to real applications, the creation of new compliant wallets, and the adoption of hybrid financial architecture that merges blockchain transparency with traditional efficiency. This may affect the acceptance of stablecoins in the traditional economy.
The stablecoin service launched by Stripe via Bridge represents an important milestone in the convergence of global fintech and the crypto industry, promoting broader adoption of stablecoins among international companies.
