On May 7, 2023, Stripe announced the launch of stablecoin accounts in over 100 countries worldwide, allowing merchants to use USDC and USDB for fund storage and international payments. This move aims to simplify cross-border transactions, reduce costs, and enhance settlement speed.

Stripe's stablecoin accounts allow merchants to receive and make payments in USDC or USDB, with the system automatically converting stablecoins to fiat currency, eliminating the complexity of managing cryptocurrencies. Currently, Stripe supports processing USDC payments on blockchains such as Ethereum, Solana, and Polygon.

Additionally, Stripe plans to launch Visa-supported payment cards to further expand its cryptocurrency payment ecosystem. However, Australian users will need to wait until local regulations are clarified before they can use these new features.

This initiative marks Stripe's return to the cryptocurrency payment space, aiming to provide global merchants with more flexible and efficient payment solutions.