Stripe CEO Patrick Collison has announced that the payments company is actively developing a new stablecoin product, a project that they have wanted to pursue for nearly a decade. This announcement comes after Stripe’s acquisition of stablecoin platform Bridge in October 2024 for $1.1 billion. In a recent social media post, a member of the Stripe team revealed that the stablecoin will be powered by Bridge and is now ready for testing. The company is inviting businesses based outside the U.S., EU, or UK that are interested in accessing dollar-denominated transactions to reach out via email. This initiative underscores Stripe’s commitment to expanding its offerings in the cryptocurrency space.

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