Stripe, the payments giant, will apply for a federal banking licence to comply with US stablecoin guidelines and plans to apply for a trust licence from the New York State Department of Financial Services.
Stripe said on Tuesday that it would allow any business to launch its own stablecoin. The new product, called Open Issuance, "enables any business to launch and manage its own stablecoin with just a few lines of code," Stripe said in a statement. The new service will be powered by Bridge, which Stripe bought last year for $1.10 billion.
"Businesses are free to mint and destroy tokens, customise their reserves to manage the ratio between cash and Treasuries, and choose their preferred partner," Stripe said. "Treasuries are managed by BlackRock, Fidelity Investments and Superstate. Cash is held by Lead Bank to provide liquidity when necessary."
Stripe will apply for a federal banking license to comply with U.S. stablecoin guidelines
2025-09-30 21:57:58
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