Stripe launches stablecoin financial account support for merchants in 101 countries

ChainCatcher news, Stripe announced the launch of "Stablecoin Financial Accounts," allowing business users in 101 countries and regions worldwide to hold USDC or USDB stablecoin balances, with the ability to send and receive funds through fiat and crypto channels. The account is managed by Bridge, a subsidiary of Stripe, and funds can be transferred in via ACH, wire transfer, or crypto wallet, with support for transfers to bank accounts or crypto addresses. Stripe also plans to offer a Visa card service priced in USDC.

USDB is a closed-loop stablecoin, meaning it is not publicly issued. USDB is an infrastructure stablecoin issued by Bridge. It is always backed one-to-one by cash and short-term money market funds held by BlackRock.