#StripeStablecoinAccounts

Currency Accounts

Stripe recently launched financial stablecoin accounts in over 100 countries. This new feature allows businesses on the Stripe platform to hold funds and make payments using stablecoins.

Here’s a breakdown of what this means:

* Global Reach: Businesses in over 100 countries can now use these accounts backed by stablecoins.

* Supported Stablecoins: The accounts will initially support USDC (issued by Circle) and USDB (Stripe's proprietary stablecoin, issued by the recently acquired Bridge unit). Stripe plans to add support for more stablecoins in the future.

* Functionality: Businesses can:

* Hold balances in stablecoins.

* Receive funds via digital currency channels and traditional channels.

* Make payments to suppliers internationally.

* Transfer funds between their stablecoin balance and external bank accounts or digital wallets.

* Send money to others in US dollars (via ACH or wire transfers) or stablecoins via digital currency networks.

* Custody: Bridge, a subsidiary of Stripe, will act as the custodian for stablecoin balances.

* Nature of USDB: It is important to note that USDB is currently a closed-loop stablecoin and is not available for public sale.