In brief
- Stripe says it will introduce stablecoin financial accounts in 101 countries.
- It has also launched an AI model trained on billions of transactions to improve performance.
- The company processed $1.4 trillion in payments last year, up 38% over 2023.
Stripe is making a renewed push into crypto and artificial intelligence, unveiling a slate of new features at its annual user event on Wednesday in San Francisco.
Two major updates include the rollout of Stablecoin Financial Accounts, which will allow businesses in 101 countries to hold balances in dollar-backed stablecoins, receive funds via crypto or traditional rails, and send stablecoins globally.
It also rolled out a new Payments Foundation Model, an AI system trained on tens of billions of transactions to better detect fraud and improve authorization rates.
"There are not one, but two, gale-force tailwinds, well off the Beaufort scale, dramatically reshaping the economic landscape around us: AI and stablecoins," Patrick Collison, Stripe’s co-founder and CEO, said in a statement. "Our job is to pull these technologies forward so businesses on Stripe can benefit from them right away."
Stripe joins a growing list of major firms re-engaging with crypto, alongside companies like PayPal, Visa, and Robinhood, as institutional momentum builds and regulation coalesces around solid frameworks.
Bitcoin Payments Company Strike Launches BTC-Backed Loans
Bitcoin-backed loans are now available for Strike's American customers, the payment app's CEO announced Tuesday. Strike boss Jack Mallers posted a video on X explaining the new service. Customers from a total of 26 U.S. states are eligible to secure loans starting from between $75,000 to $100,000, depending on the state, the firm's website says. Mallers said that the service will soon be available in other regions, including Europe. Announcing Strike Lending You shouldn’t have to sell the bes...
Stripe is riding a wave of strong growth. In 2024, the company processed $1.4 trillion in total payment volume, up 38% from the previous year—a figure roughly equivalent to 1.3% of global GDP.
It's also on a pivot back toward crypto after it shelved earlier efforts in 2018, citing high costs and slow transaction speeds. The company has since warmed to the sector, launching a "Pay with Crypto" option in late 2024 in partnership with Paxos.
Three months ago, it finalized a deal to acquire Bridge, a stablecoin payments platform, for a reported $1.1 billion.
Bridge, founded by Coinbase alumni Zach Abrams and Sean Yu, previously claimed $5 billion in processed volume and counted SpaceX among its clients. Its software enables businesses to accept and manage stablecoin payments.
DeFi Development Corp to Split Stock 7-for-1 After Solana-Fueled Rally
DeFi Development Corp., a publicly traded real estate software firm turned crypto holding vehicle, said Wednesday it will execute a 7-for-1 stock split later this month, capping a frenetic pivot into the Solana blockchain ecosystem that has fueled a staggering rally in its share price. The split, approved by the board and pending regulatory steps, will take effect May 20. Shareholders of record as of May 19 will receive six additional shares for each share they hold, increasing outstanding shar...
Stripe's new stablecoin accounts will initially support USDC and USDB.
Stripe also announced new multi-currency accounts, allowing businesses to hold, convert, and spend in USD, EUR, and GBP without incurring unnecessary foreign exchange fees.
The move aims to simplify financial operations for multinational companies operating across borders.
Edited by Sebastian Sinclair
