The payments giant is aiming for a federal banking license to enter the stablecoin market.
On September 30, digital payments leader Stripe announced the launch of Open Issuance, a platform that allows any company to create and manage its own stablecoin using just a few lines of code.
The new solution is powered by Bridge, a company Stripe acquired last year for $1.1 billion. According to Stripe, businesses will be able to freely mint and burn tokens, customize reserves to manage the balance between cash liquidity and treasury securities, and select preferred partners.
Stripe also confirmed that all stablecoins issued through Open Issuance will be fully interoperable with one another.
The platform stands out for its professional reserve management system. Treasury securities are managed by financial giants such as BlackRock, Fidelity Investments, and Superstate, while cash liquidity is held at Lead Bank to ensure operational flexibility.
According to The Information, Stripe plans to apply for a federal banking license, a key step to comply with U.S. stablecoin regulations. The company also intends to seek a trustee license from the New York State Department of Financial Services.
Last May, Stripe had already launched a U.S. dollar stablecoin money management feature, allowing businesses in 101 countries to hold balances in dollar-backed tokens, receive funds via both crypto and fiat infrastructures, and transfer tokens globally. In June, the company further strengthened its position by acquiring Privy, a crypto wallet specialist.
