Stripe to expand stablecoin cards to 100 countries as crypto payments strategy grows
Summary
Stripe plans to expand its stablecoin card programs to more than 100 countries by year-end, with customers including Kraken, Ramp and Morse. Henri Stern, Privy’s CEO, now also oversees Stripe’s stablecoin and crypto work. Stripe combines its card-issuing infrastructure with Bridge, acquired for $1.1 billion, and says it will support multiple stablecoins and blockchains rather than lock customers into its ecosystem. Stablecoin card spending reached about $1.2 billion last month, triple the level a year earlier. Stripe is also developing a broader payments strategy involving Privy, Bridge, the Tempo blockchain and the Open USD stablecoin, while exploring tokenized deposits and DeFi.
