Stripe launches stablecoin financial account to support 101 domestic merchants

According to PANews on May 8, Stripe announced the launch of "Stablecoin Financial Accounts", which supports corporate users in 101 countries and regions around the world to hold USDC or USDB stablecoin balances and can send and receive funds through fiat currency and crypto channels. The account is escrowed by Stripe's Bridge, and funds can be transferred through ACH, wire transfer or encrypted wallet and supported transfer to a bank account or encrypted address. Stripe also plans to offer USDC-denominated Visa card services.

USDB is a closed-loop stablecoin, which means it is not sold publicly. USDB is an infrastructure stablecoin issued by Bridge. It always corresponds to the equivalent dollar cash and short-term money market funds held by BlackRock.