Stripe Explores Stablecoin Integration with Banks
Stripe is in early talks with banks about incorporating stablecoins into conventional financial products. This move comes after Stripe expanded its stablecoin offerings, including a platform for fintechs to launch stablecoin-linked cards quickly.
John Collison, Stripe’s co-founder, told Bloomberg that banks are seriously considering stablecoins and exploring ways to integrate them into their services. With about $243 billion in stablecoins currently circulating,there’s growing interest in using them for real-world payments.
Collison believes stablecoins can reduce costly and slow cross-border fees.”A significant portion of our future payment volume will be in stablecoins,” he said. Stripe views stablecoins as a crucial part of its business strategy.
Stripe recently acquired Bridge for $1.1 billion. Bridge,now part of Stripe,launched its own stablecoin,USDB,and partnered with Visa for a global card that allows stablecoin spending like fiat.
Stripe introduced stablecoin accounts in over 100 countries.Competitors like PayPal, Visa, and FIS are also making similar moves. Regulators in the US, UK, and EU are considering new frameworks.
Collison warned that London could lag behind if the UK doesn’t act quickly on regulation. Companies may seek clearer rules elsewhere. Stripe serves over 1 million businesses in the UK, including 45% of FTSE 100 companies. Stripe is expanding its stablecoin-focused teams globally.
