Stripe to Test Stablecoin Payments Product for Non-US Companies
Stripe is launching a pilot for a stablecoin payments product aimed at businesses outside the U.S., U.K., and EU. CEO Patrick Collison announced that this initiative has been in development for nearly a decade.
This announcement follows Stripe's regulatory approval to acquire Bridge, a payments platform founded by ex-Coinbase executives. Bridge aims to provide alternatives to traditional cross-border transaction systems like SWIFT.
Key points:
- Companies in various sectors are entering the stablecoin market.
- Citi predicts stablecoins could lead to significant blockchain adoption, potentially reaching $3.7 trillion by 2030 with regulatory support.
- Stripe previously supported bitcoin payments in 2014 but discontinued it due to transaction speed and fee issues.