Stripe Expands Into the Crypto Arena, Launching Support for USDC Stablecoin Payments

Global payments giant Stripe has made a significant move into the crypto sphere with the launch of Stablecoin Financial Accounts and support for USDC payments.

Announced Wednesday, the new offering will see Stripe expand its capabilities to include receiving, holding and sending dollar-backed stablecoins, starting with USDC, issued by Circle, and USDB, developed by Bridge.

This builds on Stripe’s earlier integration of USDC and USDP as checkout payment methods, which launched in 2024 and has seen rapid adoption across 70+ countries, with support for blockchain networks such as Ethereum, Solana and Polygon.

Those integrations were part of Stripe’s broader initiative to support entrepreneurs and small businesses in accessing new financial technologies.

This initiative is especially crucial for businesses operating in economies with unstable currencies, offering them a more stable and accessible way to manage finances and engage in cross-border transactions.

“These accounts will enable entrepreneurs in countries with unstable currencies to hedge against inflation and easily access the global economy,” Stripe said in its announcement.

The company highlighted the role of stablecoins in facilitating financial inclusion and streamlining global commerce.

Commenting on the development, Circle CEO Jeremy Allaire congratulated Stripe on what he described as a “powerful launch.”

He added that the rollout of USDC-native financial accounts is “an extraordinary opportunity” for global businesses. “USDC utility just expanded dramatically,” he noted.

Stripe’s foray into crypto began back in 2021 with the launch of Bitcoin (BTC) tipping on its platform.

Earlier this year, Stripe also unveiled the Payments Foundation, an AI-backend system designed to optimize transactions by increasing approval rates and minimizing fraud.

Co-founder and CEO Patrick Collison described both AI and stablecoins as “two gale-force tailwinds that are good for the world and that we can push forward together.”

“Our job is to drive these technologies forward so that customers can benefit from them immediately,” Collison added.

Stripe’s expansion into crypto comes at a time when demand for low-cost, efficient international payments is surging. Stablecoins, with their programmable, instant settlement capabilities, are increasingly seen as a viable solution to outdated financial systems.

Stablecoin Transactions Continue to Soar

This move by Stripe is part of a broader shift in the payments industry as stablecoins become a crucial component of the evolving financial infrastructure.

A March report by blockchain research firm Dune revealed that annual stablecoin transaction volume has reached $35 trillion, more than double Visa’s volume in 2024. USDC alone has seen its market cap double over the past year, driven by global partnerships and regulatory breakthroughs.