Financial technology giant Stripe has announced the launch of Stablecoin Financial Accounts

This move, coming just three months after Stripe's acquisition of stablecoin platform Bridge, signals a significant step towards integrating digital currencies

Financial technology giant Stripe has announced the launch of Stablecoin Financial Accounts, a new suite of money management capabilities that will allow businesses in 101 countries to hold balances in stablecoins, send and receive funds across both traditional fiat and cryptocurrency rails.

This move, coming just three months after Stripe's acquisition of stablecoin platform Bridge, signals a significant step towards integrating digital currencies into mainstream business operations.

The newly introduced Stablecoin Financial Accounts will enable businesses to fund their balances using traditional methods and receive payments in stablecoins. Crucially, they will also be able to send funds from their stablecoin balances in USD via traditional payment networks like ACH and wire, as well as in stablecoins over cryptocurrency networks.

Introducing Stablecoin Financial Accounts. Hold a stablecoin balance. Send and receive funds with fiat and crypto rails. Accessible from 101 countries:https://t.co/yXtE9cdeaz.pic.twitter.com/WnifgAutoA

Stripe has partnered with its subsidiary, Bridge, for the custody of these stablecoin balances. Initially, the platform will support two dollar-pegged stablecoins: USDC, issued by Circle, and USDB, an infrastructure stablecoin issued by Bridge. Stripe clarified that USDB is a closed-loop stablecoin, not available for public sale, but is fully backed one-to-one by the equivalent value of US dollars held in cash and short-duration money market funds at BlackRock.

This launch addresses a critical need for businesses operating globally, particularly in regions with volatile currencies. The ability to seamlessly move between fiat and stablecoin within the Stripe ecosystem could significantly streamline international transactions and reduce reliance on traditional, often costly and slow, cross-border payment methods. Stripe cited a Visa study that noted stablecoin transactions have grown by over 50% in the past year.

Furthermore, Stripe highlighted Bridge's recent partnership with Visa, which will see the issuance of the first-ever global card product linked to stablecoin wallets. This development will allow businesses and individuals holding stablecoins in their Bridge-custodied accounts to spend their balances at any of the millions of merchants worldwide that accept Visa. When a purchase is made, Bridge will handle the conversion from stablecoin to fiat currency for the merchant.

Patrick Collison, Stripe cofounder and CEO, said: "We're pulling these technologies forward so businesses on Stripe can benefit from them right away. Stablecoins have the potential to transform money in the same way that the internet transformed communication."