Stripe explores banking associations as Stablecoins becomes a key to global payments: Report

The Payments Stripe firm maintained the first discussions with the banks about the integration of Stablecoins into its central service as digital tokens are gaining ground for global payments, said co -founder and president John Collison in an interview with Bloomberg.

“Banks are very interested in how they should be integrated with Stablecoins into their product offers as well,” said Collison. “This is not something that banks are simply brushing or treating as a fashion.”

Their comments underline the growing interest among traditional financial companies to explore Stablecoins, one of the fastest growing cryptography use. The stablecoins, which have become a class of assets of $ 240 billion, are tokens based on blockchain anchored to currencies issued by the government, predominantly to the US dollar. They offer a cheaper and faster alternative with watch settlements around the clock compared to traditional payments channels.

PayPal (PyPL) launched its own Stablecoin Pyusd backed by the US dollar, while the French Bank’s general one issued a Token Eurcv backed by the euro. Visa developed a tokenization platform to help banks broadcast Stablecoins.

Stripe is also betting on the growing role of stables in international payments.

The firm arrived at the headlines earlier this year by acquiring Stablcoin Tech Startup Bridge for $ 1.1 billion. Since then, Bridge launched its own USDB Stablecoin while Stripe introduced Stablecoin accounts into more than 100 countries.

“A large part of our future payment volume will be in Stablcoins,” Collison said in the interview.

He pointed out expensive FX rates and processing times of several days such as weak points that Stablecoins could address.

Read more: Tether, Tron dominates the fast -growing Stablecoin payments, shows the survey



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