Stripe Unveils New US Dollar Stablecoin for Global Businesses Outside the US, UK, and Europe
Stripe, the global payments powerhouse, is stepping deeper into the crypto space with the development of a new USD-backed stablecoin product, specifically designed for companies operating outside the United States, the United Kingdom, and Europe. This strategic move could significantly extend the reach and influence of the US dollar across global markets.
CEO Patrick Collison recently confirmed the project on X (formerly Twitter), inviting companies to join early testing of the new solution. The announcement follows Stripe’s acquisition approval of Bridge, a fast-growing stablecoin payments network.
Bridge, co-founded in 2022 by ex-Coinbase execs Zach Abrams and Sean Yu, presents a competitive alternative to traditional systems like SWIFT, the global messaging infrastructure used by banks for cross-border wire transfers. With this acquisition, Stripe positions itself as a modern alternative to legacy financial systems.
2025: A Breakout Year for Stablecoins
Stripe’s connection to cryptocurrency isn't new. It was the first major payment processor to integrate Bitcoin (BTC) back in 2014. However, due to Bitcoin’s slow transaction speeds and high fees, support was discontinued shortly after.
The company reignited its crypto efforts in 2021, rebuilding its blockchain team and paving the way for a series of launches. In June 2024, Stripe teamed up with Coinbase to enable seamless fiat-to-crypto conversions. By October, it rolled out a stablecoin payment feature that saw adoption in more than 70 countries on day one.
Stripe’s latest project, its own stablecoin infrastructure, has been years in the making. CEO Collison even noted, “It’s something we’ve wanted to build for around a decade.”
Stablecoins are cryptocurrencies tied to the value of fiat currencies, aiming to provide price stability and faster settlement times. Their growing popularity has caught the eye of regulators in the U.S., with Federal Reserve Chair Jerome Powell calling for clear legislation in the space.
Other major players are joining the race as well PayPal launched its own stablecoin in 2023 and recently began offering yield to token holders.
As of April 25, the global stablecoin market cap has reached a staggering $237.5 billion, according to DefiLlama, an indication that stablecoins are no longer niche but a key part of the evolving digital economy.
