Stripe Unveils Stablecoin Payment Accounts, AI Features During Annual User Event
Stripe is enhancing its focus on crypto and artificial intelligence, introducing new features at its annual user event. Key updates include Stablecoin Financial Accounts for businesses in 101 countries, enabling them to hold dollar-backed stablecoins, receive funds via crypto or traditional methods, and send stablecoins globally. An AI-driven Payments Foundation Model has been launched to improve fraud detection and authorization rates. Stripe's co-founder, Patrick Collison, emphasized the transformative impact of AI and stablecoins on the economy. The company processed $1.4 trillion in payment volume in 2024, a 38% increase from the previous year. After previously halting crypto efforts in 2018, Stripe has re-entered the space with a "Pay with Crypto" option and acquired Bridge, a stablecoin payments platform, for $1.1 billion. New multi-currency accounts will also be available, allowing businesses to manage USD, EUR, and GBP without foreign exchange fees.
