Global payments firm Stripe is deepening its crypto offerings with a tool it says will allow any business to launch and manage their own stablecoin “with just a few lines of code.”
The tool, called “Open Issuance,” will allow businesses to “mint and burn coins freely, and customize their reserves to manage the ratio between cash and treasuries and choose their preferred partners,” Stripe said on Tuesday.
The service, one 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 — while treasuries will be managed by asset management giants BlackRock, Fidelity Investments and blockchain-based asset manager Superstate.
Financial companies have been increasingly interested in stablecoins under the crypto-friendly Trump administration, which signed the stablecoin-regulating GENIUS Act into law in July. The stablecoin market has boomed to $300 billion, with the US Treasury estimating it will rise to $2 trillion by 2028.
The Information also reported on Tuesday that Stripe is seeking a federal banking charter to meet US stablecoin requirements, as well as a trust license from the New York State Department of Financial Services.
Stripe service can launch stablecoins in days
Stripe said businesses using Open Issuance could launch a stablecoins in a few days, adding that users can create rewards and use earnings from these rewards to incentivize their customers.
“Businesses can build on top of stablecoins that they customize and control, so that the benefits of this important technology flow directly to the people and businesses using them.”
Stripe claimed that its solution carries fewer risks than building one in-house, which can create challenges with managing reserves, compliance, and liquidity.
Crypto-as-a-service a growing trend
Stripe’s stablecoin service follows similar white label crypto services that the industry has started to offer as traditional companies become more comfortable with the sector.
On Monday, Crypto exchange Binance started rolling out a crypto-as-a-service solution for banks, brokerages and stock exchanges that are looking to offer crypto services to their clients.
Binance’s offering gives companies access to the platform’s spot and futures markets, liquidity pools, custody solutions, and compliance tools without needing to build their own infrastructure “from the ground up.”
One of Binance’s biggest competitors, Coinbase, also started offering a similar crypto-as-a-service solution in June.
Stripe sees potential with stablecoin-powered, agentic e-commerce
On Monday, Stripe announced the launch of its Agentic Commerce Protocol, an artificial intelligence-powered commerce solution built by Stripe and ChatGPT-creator OpenAI that will enable merchants to sell via AI agents while retaining control over their brand and customer relationships.
Related: Ripple chief technology officer to step back, join board
Stablecoin issuer Circle tapped crypto infrastructure platform Crossmint to expand stablecoin rails for USDC (USDC) late last month as part of its plan to support payments for AI agents.
It comes as two members of Coinbase’s development team said in August that AI agents will eventually become Ethereum’s “biggest power user” — unlocking countless opportunities for e-commerce apps onchain.
Magazine: Quitting Trump’s top crypto job wasn’t easy: Bo Hines
