Global payments giant Stripe is gearing up to test a new product enabling stablecoin payments for businesses operating outside the United States, the United Kingdom, and the European Union. CEO Patrick Collison confirmed the initiative on social media, stating that this offering has been in development for nearly a decade and is now entering a pilot phase with select users.
This announcement follows Stripe’s recent regulatory approval to acquire Bridge, a payments platform established by former Coinbase executives Zach Abrams and Sean Yu. Bridge’s infrastructure provides an alternative to conventional cross-border payment systems like SWIFT.
Stripe’s move into stablecoin payments occurs amid increasing interest in the sector from both cryptocurrency firms and traditional financial institutions. Industry analysts, including Citi, have suggested that stablecoins could represent a significant catalyst for blockchain adoption, potentially growing into a $3.7 trillion market by 2030 with supportive regulations.
Notably, this isn’t Stripe’s first foray into the crypto space. The company was an early adopter of cryptocurrency payments, supporting Bitcoin transactions in 2014 before ultimately discontinuing the service due to concerns over transaction speed and fees.
