Stripe is taking a major step forward in crypto payments by launching a new US dollar stablecoin product aimed at companies outside the United States, the United Kingdom, and Europe. This move could further boost the global influence of the dollar through digital assets.

Stripe CEO Patrick Collison announced the testing phase on X, inviting businesses to participate. This comes shortly after Stripe secured regulatory approval to acquire Bridge — a stablecoin payments network that challenges traditional banking systems like SWIFT for international transactions. Bridge, co-founded in 2022 by former Coinbase executives Zach Abrams and Sean Yu, aims to make cross-border payments faster and cheaper.

Stripe’s Renewed Crypto Push

Stripe has had a long relationship with crypto. It was the first major payments company to integrate Bitcoin (BTC) back in 2014, although it later pulled back due to Bitcoin’s slow transaction speeds and high fees. The company restarted its crypto efforts in 2021, assembling a new team to build crypto-related services.

In 2024, Stripe introduced stablecoin payment support, and adoption was swift — users across 70 countries began utilizing the feature on the first day. Stripe also partnered with Coinbase to offer seamless fiat-to-crypto conversions that year. CEO Collison noted that this stablecoin initiative has been a vision “around a decade” in the making.

Stablecoins on the Rise

Stablecoins — digital assets pegged to traditional currencies like the US dollar — are gaining traction globally. In the United States, regulators are increasingly focusing on stablecoins, with Federal Reserve Chair Jerome Powell calling for specific legislation. Other major players, like PayPal, have also entered the market, launching their own stablecoins and offering new features such as yield opportunities for holders.

As of April 25, 2025, the total stablecoin market cap stands at $237.5 billion, according to DefiLlama — a sign that the sector’s influence is only growing.