Stripe Launches Stablecoin Financial Accounts and Multi-Currency Features
Stripe has launched Stablecoin Financial Accounts, enabling users to hold cryptocurrencies as stablecoins. Currently, it supports two dollar-denominated stablecoins: USDC and USDB, with plans for more in the future.
Key points:
- Available in 101 countries.
- Launched after Stripe's $1.1B acquisition of Bridge, a stablecoin payment platform.
- Bridge is negotiating with VISA to develop a global card for direct stablecoin-to-fiat conversion at 150M merchants.
- Introduced a multi-currency account allowing businesses to hold funds in USD, GBP, and EUR, eliminating forex fees on cross-border payments.
- Developed an AI model to identify fraudulent transactions, trained on billions of transactions.
- Stripe processed $1.4T in total payment volume in 2024, a 38% increase from the previous year.
These updates align with the rising trends in stablecoins and artificial intelligence in the fintech sector.
