Global payments firm Stripe is enhancing its crypto offerings with a new tool it claims will enable any business to launch and manage their own stablecoin “with just a few lines of code.”
The tool, named “Open Issuance,” will enable businesses to “mint and burn coins freely, customize their reserves to manage the ratio between cash and treasuries, and select their preferred partners,” Stripe stated on Tuesday.
This service, part of more than 40 offerings Stripe announced this week, will be backed by Bridge — a stablecoin infrastructure company Stripe acquired for $1.1 billion in October 2024 — with treasuries managed by major asset management firms like BlackRock, Fidelity Investments, and blockchain-based asset manager Superstate.
Interest in stablecoins has surged among financial firms, especially under the crypto-friendly Trump administration, which enacted the stablecoin-regulating GENIUS Act in July. The stablecoin market has expanded to $300 billion, and the US Treasury estimates it will soar to $2 trillion by 2028.
The Information also reported on Tuesday that Stripe is pursuing a federal banking charter to comply with US stablecoin regulations, along with a trust license from the New York State Department of Financial Services.
Stripe service can launch stablecoins in days
Stripe mentioned that businesses utilizing Open Issuance could launch a stablecoin in just a few days, allowing users to create rewards and use their earnings to incentivize customers.
“Businesses can build on top of stablecoins that they customize and control, so that the benefits of this vital technology flow directly to the people and businesses using them.”
Stripe asserted that its solution entails lower risks compared to developing one in-house, which may pose challenges in managing reserves, compliance, and liquidity.
Crypto-as-a-service a growing trend
Stripe’s stablecoin service aligns with similar white label crypto services emerging in the industry as traditional companies grow more comfortable with the sector.
On Monday, crypto exchange Binance began launching a crypto-as-a-service solution for banks, brokerages, and stock exchanges seeking to offer crypto services to their clients.
Binance’s offering provides companies with access to the platform’s spot and futures markets, liquidity pools, custody solutions, and compliance tools without the need to build their own infrastructure “from the ground up.”
One of Binance’s key competitors, Coinbase, also began offering a comparable crypto-as-a-service solution in June.
Stripe sees potential with stablecoin-powered, agentic e-commerce
On Monday, Stripe introduced its Agentic Commerce Protocol, an AI-driven commerce solution developed by Stripe and OpenAI, the creator of ChatGPT, which will enable merchants to sell through AI agents while maintaining control over their brand and customer relationships.
Related: Ripple chief technology officer to step back, join board
Stablecoin issuer Circle collaborated with crypto infrastructure platform Crossmint to enhance stablecoin rails for USDC (USDC) late last month as part of its initiative to support payments for AI agents.
This development follows comments from two members of Coinbase’s development team in August, predicting that AI agents will eventually become Ethereum’s “biggest power user,” unlocking numerous opportunities for e-commerce applications on-chain.
Magazine: Quitting Trump’s top crypto job wasn’t easy: Bo Hines
