#StripeStablecoinAccounts

Stripe launches stablecoin accounts and AI model for payments:

Expanded its financial management offering with the launch of Stablecoin Financial Accounts, powered by stablecoins. Companies using these accounts can hold balances in stablecoins, receive payments through cryptocurrencies and traditional fiat means, such as ACH and SEPA, and send stablecoins to most global markets. These accounts are designed to be accessible to businesses in 101 countries.

Initially, the accounts will support the stablecoins USDC and USDB from Bridge, with plans to incorporate other currencies over time. To address the challenge of spending stablecoins in businesses that only accept fiat currency, Bridge, a stablecoin platform recently acquired by Stripe, partnered with Visa on a global card issuance product. This collaboration allows FinTechs to issue Visa cards linked to stablecoin wallets, enabling spending at any of the 150 million merchant locations that accept Visa worldwide. When a purchase is made, Bridge facilitates the conversion of stablecoins into fiat currency for the merchant.

Patrick Collison, co-founder and CEO of Stripe, characterized AI and stablecoins as two "strong winds" that are fundamentally reshaping the economy, adding: "Our job is to push these technologies forward so that businesses on Stripe can benefit from them immediately."

AI has been essential for Stripe's business performance in the recent past, with the company stating in its annual letter in February that the technology contributed to a 38% increase in the company's total payment volume throughout 2024.

On Visa's part, it was recently reported that the payments giant is joining the Global Dollar Network (USDG) stablecoin consortium. Visa declined to comment.