Stripe Prepares to Launch Stablecoin Built on Bridge Platform

Stripe is developing a new stablecoin-based product using technology from Bridge, the payments infrastructure firm it acquired for $1.1 billion in October 2024, according to social media updates from company executives.

Stripe CEO Patrick Collison confirmed the project on April 26, writing, “We’ve wanted to build this product for around a decade, and it’s now happening.”

Developer Jen Kim added that the product is ready for testing and that Stripe is actively collecting user feedback. While full details are still under wraps, early indicators suggest the product is geared toward users outside the United States, United Kingdom, and European Union. Kim noted that customers in over 90 countries have already used stablecoins to make payments through Stripe since the launch of Bridge’s services.

Stripe’s acquisition of Bridge, a Sequoia-backed company that focuses on moving money using stablecoins, remains the largest crypto-related merger to date. Bridge provides APIs that allow businesses to accept and move stablecoin payments globally with reduced complexity.

Industry observers believe the product could unlock a substantial revenue stream for Stripe through earnings on reserves held in assets like U.S. Treasurys. VanEck Ventures’ Juan Lopez estimated the potential at $40 billion annually.

In a recent annual report, Stripe co-founders John and Patrick Collison highlighted the growing use of stablecoins in real-world scenarios—from corporate treasury and remittances to savings in unstable economies and alternative payment rails in markets with low credit card access.

Bridge, co-founded by former executives from Square and Coinbase, integrates stablecoins like USDC and USDT into traditional financial systems, enabling cross-border payments and currency exchanges. The Texas-based firm has gained traction through partnerships like the one with Bitso for business-to-business payments in Latin America.

Stripe initially became a leader in the crypto space when it introduced Bitcoin payment support in 2014. However, it discontinued the feature in 2018, citing declining demand, long transaction times, higher fees, and price volatility. The company reintroduced crypto payments last week, supporting USDC stablecoin transactions on Ethereum, Solana, and Polygon networks.

Paxos also announced that Stripe will be the first PSP to integrate its new enterprise-grade stablecoin payments platform. Stripe’s “Pay with Crypto” product, which enables businesses to accept stablecoin payments, will feature Paxos’ technology, allowing these payments to settle in fiat currencies such as the U.S. dollar.

Stripe already supports pay-ins from over 70 countries, and the inclusion of stablecoin payments will enable businesses to accept payments from anywhere globally.