#StripeStablecoinAccounts
Stripe, a leader in digital payment services, has announced the launch of a new feature dedicated to managing funds using dollar-pegged stablecoins, following its acquisition of the stablecoin platform Bridge in a deal valued at $1.1 billion, the largest of its kind in the digital currency sector to date.
The new feature, called financial stablecoin accounts, allows businesses in 101 countries to hold balances of dollar-backed stablecoins, receive funds from both digital and traditional currency platforms, as well as send stablecoins to global destinations.
Stripe explained that these accounts enable entrepreneurs, especially in countries experiencing currency exchange rate fluctuations, to hedge against inflation and enhance their integration into the global economy.
It added that many of the world’s largest companies rely on them to formulate strategies for dealing with stablecoins.
The product in its initial phase supports two stablecoins: USDC and USDB issued by the Bridge platform, with future plans to expand the list of supported digital currencies.
In addition to this initiative, Stripe revealed that it is developing a core payment model supported by artificial intelligence technologies, which it describes as the first of its kind globally.