The post Stripe Building First Stablecoin Product On Bridge appeared on BitcoinEthereumNews.com.

Stripe, a global payments platform, is building its first stablecoin financial product for companies based outside the United States, the United Kingdom, and Europe. The move could help further expand the footprint of the Dollar in global markets.  The new stablecoin product will be powered by Bridge. In October 2024, after receiving regulatory approval, Stripe purchased the stablecoin payments infrastructure firm for $1.1 billion.  Stripe Building New Stablecoin Product  Stripe co-founder Jeff Weinstein and CEO Patrick Collison confirmed the project on X. Collison posted an invitation for companies interested in testing the solution, adding that the company had wanted to build such a product for over a decade.  “We’ve wanted to build this product for around a decade, and it’s now happening.” The project began gaining traction after Stripe acquired stablecoin payments network Bridge. The company’s acquisition of Bridge for $1.1 billion remains the largest crypto-related merger to date. Bridge focuses on using stablecoins to move money, providing APIs to businesses allowing them to accept and move stablecoin payments across the globe while minimizing complexities.  Developer Jen Kim stated that the new product is ready for testing and that Stripe is actively collecting user feedback. Kim also added that users in over 90 countries have begun using stablecoins to make payments through Stripe since the launch of Bridge’s services. Bridge competes with banks and other financial institutions using the SWIFT payment system. SWIFT is a global financial messaging network facilitating international wire transfers.  A New Revenue Stream  Industry insiders believe the new product could unlock a significant revenue stream for Stripe through earnings on reserves held in US assets like US Treasuries. Some estimations put the figure at $40 billion. Stripe co-founders Jeff Weinstein and Patrick Collison highlighted the growing use of stablecoins from corporate treasury and remittances to savings…

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Filed under: News - @ April 27, 2025 11:17 am