Stripe Launches New Stablecoin Product to Expand Dollar Reach
Highlights:
- Patrick Collison announced the testing of Stripe stablecoin and urged companies to participate.
- Stripe completed a 1.1 billion dollar acquisition of Bridge to strengthen its stablecoin payment infrastructure.
- The company has begun testing its stablecoin product as competition grows from major players like Tether.
Stripe has launched a new stablecoin product, which is ready for testing. CEO Patrick Collison announced the development on X, inviting companies to participate in early testing. The move comes as Stripe looks to extend the footprint of the US dollar through stablecoin technology.
Stripe is building a NEW stablecoin product, powered by Bridge, and we're ready to start testing!
If your company is:
🌏 Based outside of the US, EU, or UK
💵 Interested in dollar access👉 Send a quick note about your company to stablecoins@stripe.com
— Jen (@BackseatVC) April 25, 2025
Stripe has been planning this product for nearly a decade, according to Collison, and the timing aligns with the company’s renewed push into crypto. The company first integrated Bitcoin payments in 2014 but later dropped support because of slow transfer times and high transaction costs. Stripe resumed the crypto project back in 2021 by putting together a team to work on it. Stripe introduced a payment option using stablecoins in October. The option enabled users in over 70 countries to make payments via stablecoins from the first day.
Stripe’s new stablecoin project comes at a time when businesses all around the world are looking for a faster and cheaper way to move money. According to the company, traditional systems lack global availability, cheap transfers, and programmable financial services, which the company believes stablecoins provide.
Bridge Acquisition Strengthens Stripe’s Stablecoin Strategy
Stripe acquired Bridge, a stablecoin payments network co-founded in 2022 by former Coinbase executives Zach Abrams and Sean Yu, for $1.1 billion in February 2025. Bridge is central to Stripe’s latest product development, building the infrastructure necessary to make the global money movement using stablecoins a reality.
Bridge’s platform is competing with banks and other companies that use the SWIFT network for international wire transfers. By adding Bridge to its payments system, Stripe solidifies its place in the payments market, providing businesses a faster and possibly more cost-effective way compared to traditional payment methods.
Additionally, Stripe has experienced massive growth in its scale. It handled over $1.4 trillion in payment volume last year, a 38% increase from the previous year. The company now makes up about 1.3% of the global gross domestic product via transaction volume.
Stripe also returned to crypto payments earlier this year. Users were allowed to pay traders in cryptocurrencies, including stablecoins like USDC and Pax Dollar, on Ethereum, Solana, and Polygon blockchains. These developments prove that Stripe is progressing towards frequently offering new payment options in accordance with current technologies.
Stripe Starts Testing New Stablecoin Product as Competition Rises
The stablecoin product is now ready for testing, according to Stripe developer Jen Kim, who encouraged businesses to provide feedback during this stage. Early usage figures show strong interest. Customers from over 90 countries are already using stablecoin services through Stripe for invoices or at checkout.
Stripe is building a NEW stablecoin product, powered by Bridge, and we're ready to start testing!
If your company is:
🌏 Based outside of the US, EU, or UK
💵 Interested in dollar access👉 Send a quick note about your company to stablecoins@stripe.com
— Jen (@BackseatVC) April 25, 2025
Competition in the space is still intensifying even as Stripe moves ahead with its stablecoin initiative. The stablecoin will face competition from established players such as USDT. Recently, World Liberty announced plans to launch a new stablecoin, USD1. Stablecoin adoption is on the rise, and companies such as Stripe are positioning themselves to take up a larger share of the market.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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