Stripe opens testing for new stablecoin product following Bridge acquisition
Bridge, Stripe’s stablecoin payments network, will power the company’s new product — something it says it has wanted to build for nearly a decade.
Stripe, a global payments platform, is building a new US dollar stablecoin product for companies based outside the United States, the United Kingdom and Europe in a move that may further expand the footprint of the dollar around the world.
Stripe CEO Patrick Collison confirmed the product on X, posting an invitation for companies interested in testing the solution. The move gained traction after Stripe recently received regulatory approval to acquire the stablecoin payments network Bridge.
Bridge’s network competes with banks and companies that use the SWIFT system, a global financial messaging network that facilitates international wire transfers. Two former Coinbase executives, Zach Abrams and Sean Yu, co-founded the company in 2022.
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