Stripe plans to expand stablecoin card business to more than 100 countries by the end of the year

PANews October 5 news, according to CoinDesk, Stripe plans to expand its stablecoin card business to more than 100 countries by the end of the year. Henri Stern, co-founder of Stripe's crypto wallet infrastructure company Privy, has also taken on the role of head of Stripe's stablecoin and crypto business. Stripe's existing stablecoin card customers include Kraken, Ramp, and Morse.

Paymentscan data shows that about $1.2 billion in stablecoins were spent through cards last month, three times the amount in the same period last year. Stern said Stripe will remain stablecoin- and blockchain-agnostic, many projects currently use USDC, and the company is also exploring tokenized deposits and DeFi use cases, but the vast majority of its work is still focused on stablecoins.