Stripe Introduces Global Stablecoin Accounts To Expand Financial Access

2025-05-08 02:22:25

(MENAFN- The Arabian Post)

Stripe has unveiled stablecoin-powered financial accounts for businesses in 101 countries, enabling users to hold, send, and receive US dollar-pegged digital currencies. This development aims to provide a stable financial infrastructure in regions with volatile currencies and limited banking access.

The new accounts support Circle's USD Coin and Bridge's USDB, allowing businesses to manage balances similarly to traditional fiat bank accounts. Stripe's acquisition of the Bridge platform in October 2024 facilitated this integration, enhancing its capabilities in the stablecoin sector.

These accounts are accessible to businesses in countries including Argentina, Chile, Turkey, Colombia, and Peru, where stablecoins are increasingly utilized as a store of value amid high inflation and capital controls. By offering a secure and efficient means of transacting in US dollar-backed digital currencies, Stripe seeks to empower entrepreneurs and companies in emerging markets.

In addition to stablecoin accounts, Stripe has introduced an AI foundation model for payments, trained on billions of transactions to improve fraud detection and authorization rates. This model has demonstrated a significant increase in the detection of card testing attacks, enhancing the security of Stripe's payment processing services.

Stripe's partnership with Visa further extends the utility of stablecoins. Through this collaboration, businesses can issue Visa cards linked to stablecoin wallets, enabling users to make purchases at any merchant that accepts Visa. Bridge manages the backend processes, converting stablecoin balances into local currencies during transactions.

Arabian Post – Crypto News Network

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