#StripeStablecoinAccounts Three months ago, Stripe completed the acquisition of Bridge, the stablecoin orchestration company, for $1.1 billion, and yesterday revealed that the Financial Stablecoin Accounts using Bridge's technology are now available in 101 countries. Bridge continues to operate independently of Stripe, but the payment company will leverage its technology, as in this example.

Stablecoin accounts are particularly aimed at businesses in countries with volatile currencies so they can hold stablecoins in dollars. These organizations can receive money in cryptocurrencies or through bank transfers and pay globally with stablecoins.

While not highlighted, a key advantage is that businesses do not have to worry about self-custody or relying on a cryptocurrency exchange platform to hold their assets. However, the company did not specify who acts as the custodian of the stablecoin on behalf of Stripe.

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

Functionally, the Financial Stablecoin Accounts will initially support USDC and Bridge's USDB stablecoin, also presented yesterday (not to be confused with the eponymous token from Blast).

Bridge presents the USDB stablecoin

Bridge already offers a solution that allows businesses to create their own stablecoins and transact with them. USDB uses the same technology, with the reserves backing the stablecoin in bank accounts and short-term money market funds from BlackRock. The startup's documentation also mentions Fidelity and fund manager Apex as partners. Fidelity has a digital asset custody license, although it is unclear if that is its role.