Stripe to expand stablecoin cards to over 100 countries by the end of the year
Stripe is expanding its stablecoin-based card programs to over 100 countries by the end of the year. The initiative leverages the company's existing payment infrastructure and recent acquisitions like Bridge to facilitate global digital asset transactions.
Why it matters
This represents a significant step toward the mainstream adoption of stablecoins for everyday commercial payments, potentially disrupting traditional cross-border banking.
Henri Stern, CEO and co-founder of crypto wallet infrastructure firm Privy acquired last year by Stripe, has taken on an additional role overseeing stablecoins and crypto across Stripe, the company told CoinDesk.
Stripe expects its stablecoin card programs to more than 100 countries by year-end, Stern told CoinDesk in an interview. Current customers include crypto exchange Kraken, fintech Ramp and payments app Morse.
The expansion comes as stablecoin cards emerge as a fast-growing corner of the $300 billion-plus digital dollar market. About $1.2 billion of stablecoins were spent through cards last month, according to Paymentscan, triple the amount a year earlier. That's still a fraction of the global card payments market , but points to stablecoins are increasingly being used beyond crypto trading and cross-border transfers into everyday purchases.
Stripe's approach is to plug them into infrastructure it already has, Stern told CoinDesk.
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