Global payments provider Stripe is enhancing its cryptocurrency services with a new tool that enables any company to create and manage their own stablecoin “with just a few lines of code.”
The tool, named “Open Issuance,” empowers businesses to “mint and burn coins freely, customize their reserves to balance cash and treasuries, and select their preferred partners,” Stripe announced on Tuesday.
This service, among over 40 introduced by Stripe this week, will be supported by Bridge — a stablecoin infrastructure firm Stripe acquired for $1.1 billion in October 2024 — with treasuries managed by asset management leaders BlackRock, Fidelity Investments, and blockchain-based asset manager Superstate.
Financial institutions have shown growing interest in stablecoins, especially following the crypto-friendly Trump administration, which enacted the stablecoin-regulating GENIUS Act in July. The stablecoin market has surged to $300 billion, with the US Treasury predicting it could expand 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
According to Stripe, businesses utilizing Open Issuance could launch stablecoins within a few days, allowing users to create rewards and use the earnings to motivate their customers.
“Businesses can build on top of stablecoins that they customize and control, ensuring that the advantages of this significant technology directly benefit the people and businesses utilizing them.”
Stripe asserted that its solution involves fewer risks than developing one in-house, which can complicate reserves management, compliance, and liquidity.
Crypto-as-a-service a growing trend
Stripe’s stablecoin service aligns with similar white label crypto offerings that have emerged as traditional companies grow more at ease within the sector.
On Monday, crypto exchange Binance began deploying 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 access to the platform’s spot and futures markets, liquidity pools, custody solutions, and compliance tools without the need to construct their own infrastructure “from the ground up.”
One of Binance’s notable rivals, Coinbase, also launched a similar crypto-as-a-service solution in June.
Stripe sees potential with stablecoin-powered, agentic e-commerce
On Monday, Stripe unveiled its Agentic Commerce Protocol, an AI-driven commerce solution developed in collaboration with 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 partnered with crypto infrastructure platform Crossmint to enhance stablecoin capabilities for USDC (USDC) late last month, as part of its initiative to support payments for AI agents.
This development comes after two members of Coinbase’s development team suggested in August that AI agents might eventually become Ethereum’s “biggest power user,” unlocking numerous opportunities for on-chain e-commerce applications.
Magazine: Quitting Trump’s top crypto job wasn’t easy: Bo Hines
