#StripeStablecoinAccounts Stripe rolls out stablecoin accounts in 101 countries, as Bridge launches USDB

Three months ago Stripe completed its $1.1 billion acquisition of stablecoin orchestration firm Bridge and yesterday it revealed that Stablecoin Financial Accounts using Bridge’s technology are now available in 101 countries. Bridge still operates independently from Stripe, but the payments firm will leverage its technology, as in this example.

The stablecoin accounts particularly target businesses in countries with volatile currencies to enable them to hold dollar stablecoins. These organizations can receive money in crypto or via bank transfers and pay globally using stablecoins.

While it’s not emphasized, a key advantage is the businesses don’t have to worry about self custody or relying on a cryptocurrency exchange to hold their assets. However, the company did not elaborate on who is acting as stablecoin custodian on behalf of Stripe.

The list of countries where the accounts are offered mainly includes emerging market regions but excludes those with cryptocurrency laws. For example, it includes most African countries, but not major jurisdictions such as Ghana, Nigeria and South Africa.

Functionally, the Stablecoin Financial Accounts will initially support USDC and Bridge’s own USDB stablecoin, which was also unveiled yesterday (not to be confused with the existing token of the same name from Blast).

Bridge unveils USDB stablecoin

Bridge already provides a solution to enable companies to mint their own branded stablecoins and transact with them. USDB uses the same technology, with the reserves that back the stablecoin held in bank accounts and BlackRock short term money market funds. The startup’s documentation also mentions Fidelity and fund administrator Apex as partners. Fidelity has a digital asset custody license, although it’s not clear if that’s their role.