As traditional finance scrambles to keep up with the digital age, payments giant Stripe is making its biggest crypto play yet. The company has introduced a USD-backed stablecoin targeting businesses outside the United States, United Kingdom, and Europe – and yes, they’re dead serious about it.
This isn’t Stripe’s first rodeo in crypto. They were actually crypto pioneers back in 2014, being the first major payments processor to touch Bitcoin. Sure, they backed off when things got messy with high fees and network issues. But now? They’re back with a vengeance. The company’s recent merchant acquirer charter approval in Georgia signals their commitment to expanding payment processing capabilities.
The timing couldn’t be more interesting. On April 28, 2025, Stripe opened testing for this new stablecoin product, just days after acquiring Bridge, a stablecoin payments network created by former Coinbase executives. CEO Patrick Collison isn’t shy about it either – he says they’ve wanted to build this for a decade. Talk about playing the long game. Their partnership with Coinbase for fiat-to-crypto conversions in June 2024 set the stage for this bold move.
The stablecoin market is already a $237.5 billion beast, with PayPal and others throwing their hats in the ring. But Stripe’s approach is different. They’re not chasing the usual suspects in developed markets. Instead, they’re going after businesses in regions where traditional banking infrastructure looks like something from the stone age. With a large-cap status of over $10 billion, Stripe’s stablecoin aims to provide the stability that businesses need.
What’s really turning heads is how quickly Stripe’s previous crypto initiatives have caught fire. Their October 2024 stablecoin payment options spread to 70 countries in just one day. One. Day. And now they’re positioning this new stablecoin to compete with both traditional banking and SWIFT transfers.
The regulatory folks aren’t sleeping on this one. Federal Reserve Chair Jerome Powell has been practically begging for clear stablecoin legislation. Stripe, meanwhile, got their ducks in a row and secured regulatory approval for the Bridge acquisition before launching.
For a company that once ditched Bitcoin, Stripe’s return to crypto is nothing short of spectacular. And this time, they’re not just dipping their toes – they’re diving in headfirst.
