Stripe In Talks With Banks Over Stablecoin Integration: Report

Stripe has begun early discussions with banks about integrating stablecoins into traditional finance products, according to Bloomberg reporting. 

The talks follow Stripe’s recent moves to build out its stablecoin offerings, including a platform that allows fintechs to launch stablecoin-linked cards quickly. Co-founder John Collison told Bloomberg that banks are taking stablecoins seriously and are exploring ways to incorporate them into their services. 

About $243 billion in stablecoins are currently in circulation, with growing interest in using them for real-world payments.

Collison emphasized that stablecoins could eliminate costly and slow cross-border fees. 

“A lot of our future payment volume is going to be in stablecoins,” he said, adding that Stripe views them as a central part of its business moving forward.

Stripe recently acquired stablecoin platform Bridge for $1.1 billion. Bridge, which now operates under Stripe, has launched its own stablecoin, USDB, and partnered with Visa to offer a global card that lets users spend stablecoins like fiat. 

Stripe also introduced stablecoin accounts in over 100 countries.

Competitors including PayPal, Visa, and FIS are making similar moves, and regulators in the US, UK, and EU are weighing new frameworks. 

Collison warned that London risks falling behind if the UK doesn’t act swiftly on regulation, noting that companies will take their business elsewhere in search of clearer rules.

Stripe serves over 1 million businesses in the UK, including 45% of FTSE 100 companies, and is expanding its stablecoin-focused teams globally.