2025-04-27
Stripe is creating its own stablecoin
and will start testing it soon.
Jennifer Lee, a product manager at
Stripe Crypto, shared the news on Friday.
She said the new stablecoin will be
built using technology from Bridge, a stablecoin company that Stripe bought for
$1.1 billion in February.
She also invited companies outside the
U.S. to contact Stripe if they want easy access to U.S. dollars.
Stripe’s CEO, Patrick Collison, said
the company has wanted to build a stablecoin for a decade.
Earlier this year, he and his brother
John Collison wrote in Stripe’s annual letter that they believe stablecoins are
the future of money.
They explained that improvements in how
money is used have helped economies grow — like moving from coins to paper
money, switching from gold to fiat currencies, and adopting electronic
payments. They see stablecoins as the next big step in this evolution.
Stripe got back into the crypto space
last October when it launched support USDC payments on Ethereum, Solana, and Polygon
blockchains.
In the past, Stripe allowed Bitcoin
payments but stopped in 2018 because Bitcoin wasn't practical for everyday
transactions.
The move to develop a stablecoin comes
as Stripe is growing fast. In 2024, the company handled $1.4 trillion in
payments. A 38% jump from the year before which is about 1.3% of the entire
world’s economy, according to Stripe.
