Stripe is already talking to banks about how they might use stablecoins for global payments, co-founder John Collison told Bloomberg News in a recent interview.

Collison did not specify which banks were involved and what exact use cases were being discussed, but he emphasized that banks are “very interested” and not dismissing stablecoins “as a fad.”

The conversations come as the global payments giant, which processed $1.4 trillion in transactions last year, pursues new initiatives in crypto and artificial intelligence, two of the most prominent innovation themes dominating headlines over the past year.

In October 2024, Stripe sealed a $1.1 billion deal to acquire stablecoin platform Bridge. The Texas-based company has served a number of high-profile names like SpaceX and Stellar.

The acquisition, which is part of Stripe’s strategy to enhance global stablecoin adoption and its use for easier, more economical monetary transactions, was just the beginning. Collison said last month the company was working on a US dollar stablecoin product.

The product, currently in the testing phase, targets corporate users outside the US, UK, and Europe. Its goal is to extend the global reach of the dollar, facilitated by Stripe’s enhanced capabilities.

More developments followed the stablecoin product announcement.

Earlier this month, the global payments firm launched Stablecoin Financial Accounts, which lets businesses in 101 countries manage funds in dollar-backed stablecoins. It also unveiled the Payments Foundation Model, an AI system designed to enhance fraud detection and boost transaction approval rates.

As part of its push into the stablecoin market, the company has assembled a global team of around 100 employees focused on stablecoins and crypto, with plans to expand hiring in San Francisco, New York, Dublin, and London, as noted in the report.

Wall Street wakes up to the stablecoin opportunity

From Capitol Hill to Wall Street, stablecoins are dominating the crypto conversation in 2025.

They’ve become one of the hottest topics of the year, especially as the world’s economic powerhouse prepares to pass its first major crypto legislation, with a stablecoin-focused bill leading the charge.

In the US, banking giants, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are exploring a collaborative stablecoin project to enhance their competitive edge over digital asset platforms.

Bank-backed stablecoins—fully compliant with regulatory standards—are becoming a core component of digital asset strategies across the banking sector. And this trend is spreading globally.

Banco Santander is exploring the launch of a stablecoin while expanding its retail crypto offerings. Meanwhile, France’s Société Générale, through its crypto division SG Forge, is preparing to issue a US dollar-backed stablecoin on Ethereum.

Stablecoins processed a total of $94 billion in transactions from January 2023 to February 2025, with business-to-business (B2B) payments contributing significantly at a $36 billion annual rate, according to a new report from Artemis.

Tether’s USDT and Circle’s USDC dominated the payment space during the period, predominantly on the Tron and Ethereum blockchains.

Share this article