Payments giant Stripe and corporate spend management player Brex have unveiled products that bring stablecoins closer to mainstream adoption.
Stripe has introduced Open Issuance, a platform allowing businesses to launch and manage their own stablecoins with minimal coding. The firm highlights rapid adoption of stablecoins, with total supply increasing by 57% over the past year. However, businesses relying on coins issued by external providers miss out on potential benefits. For instance, a neobank holding substantial stablecoin deposits doesn’t retain the corresponding yield, and when customers redeems their stablecoins for cash, they incur burn fees.
Open Issuance, powered by Bridge—the stablecoin platform Stripe recently acquired—facilitates easy minting and burning of coins. It also allows firms to customize their reserves, balancing cash and treasuries while selecting preferred partners. Treasuries are managed by prominent firms like BlackRock and Fidelity Investments, while liquidity is supported by Lead Bank.
“If money movement is core to your business, you should build with stablecoins—not on top of someone else’s coin,” says Zach Abrams, CEO of Bridge. “With Open Issuance, businesses can customize and control their stablecoins, ensuring that the benefits of this technology flow directly to users.”
Meanwhile, Brex is set to enable customers with business accounts to accept stablecoins, automatically converting them to USD. Users will also be able to send stablecoins directly from their USD balances and pay card balances using stablecoins.
“Stablecoins enable the transfer of millions of dollars across borders in seconds, but their use often involves fragmented workflows and multiple platforms,” states Pedro Franceschi, CEO of Brex. “With this launch, forward-thinking companies across various industries, from AI to crypto, can manage their largest payments and critical expenses on a single, secure platform.”