Slash, a neobank for companies based in San Francisco, launched a payments and treasury platform promoted by a new US dollar stablecoin issued by Stripe’s Bridge on Tuesday.
The product, called the USD global account, is aimed at companies that seek access to the US dollar and cross -border payments without a bank account of the United States. It presents Slash ‘Slash itself, USDSL, which allows users to store, send and receive dollars or stablecoins in an account, the company announced.
The configuration aims to shorten the liquidation times and eliminate currency rates for cross -border payments to US suppliers, said the company in an interview with Coindesk.
Stablecoins, a type of cryptocurrencies linked to external assets such as the US dollar, have become a market of $ 250 billion, often promoted as a faster and faster option for international payments. The interest in the sector has accelerated since the president of the United States, Donald Trump, signed the Genius Law, establishing new federal standards for Stablecoin issuers.
According to reports, global banks and retailers, including Amazon and Walmart, are exploring Stablecoin products, and payments such as Paypal and Stripe have made significant movements in space. Stripe acquired the Stablecoin Bridge infrastructure firm last year for $ 1.1 billion.
The first Slash incursion in Stablecoins allowed customers to send and receive payments from USDC (USDC) and USDT (USDT) on the platform without having to keep the tokens, converting them automatically into US dollars.
“It’s very interesting because we weren’t a cryptographic company,” Cardenas said, adding that he personally did not know much about blockchain technology. “But then we had these wholesalers and marketing agencies that told us that we need to have Stablecoin payments to accept customer money at a lower cost.”
“So we send it to them,” he said.
Run in December, this characteristic already processes almost $ 1 billion in annualized volume and inspired the company to be larger with Stablecoins, said Cardenas.
The firm is now aimed at cryptographic companies that wish to consolidate its treasure management that previously needed separate accounts in traditional banks, exchanges and custody suppliers. With the new product board, customers can convert between Stablecoins, administer balances and ramp outside the ramp to the US bank accounts. UU. Through Ach, Wire or Swift transfers. They can also gain performance in their balances without triggering rules of values, said the company.
Future plans include the launch of a card that allows companies to spend their Stablecoin balances and potentially a wallet to maintain other cryptographic assets, Cardenas said.
In May, Slash raised $ 41 million in a round B series directed by Goodwater Capital, valuing the company at $ 370 million.
Read more: PayPal expands cryptographic payments for US merchants to reduce cross -border rates
