Secure Payments Made Simple: Stripe Launches USDC Payments Across 150+ Countries with Polygon PoS

• Stripe is in advanced talks to acquire Bridge, a stablecoin fintech platform, which could enhance its role in alternative payment technologies.

• Bridge recently raised $40 million in a Series A funding round, supporting the creation and transfer of stablecoins like USDT and USDC.

Stripe Inc. is reportedly in advanced discussions to acquire Bridge, a stablecoin fintech platform, according to a recent report.  This could be an indication that Stripe is investing more resources in new payment methods, especially in the stablecoins market. However, no definitive action has been taken as insiders closer to the matter have pointed out.

Bridge, a firm that is dedicated to building the stablecoin infrastructure, has just raised $40M in a Series A funding round led by Sequoia Capital. The company’s platform allows users to create, store and transfer popular stablecoins such as Tether (USDT) and Circle’s USDC. This significant investment puts Bridge in a good place within the fintech market, where stablecoins are gaining more relevance for companies and individuals.

Stripe has been slowly growing its involvement in the crypto market. Recently, the firm revealed that it will enable stablecoin payments from more than 150 countries via Polygon PoS. This means that buyers can use USDC while sellers are paid in USD making stablecoin transactions more convenient and safe across the globe.

ICYMI – @stripe recently announced stablecoin payments from 150+ countries, powered by Polygon PoS

Buyers pay in USDC, businesses get USD.

One step closer to making it easier for people all over the world to pay securely in stablecoins. https://t.co/Dc95Pm7COL

— Polygon | Aggregated (@0xPolygon) October 18, 2024

This comes a week after another major development when Stripe brought back support for crypto payments and enabled US-based businesses to accept funds in the form of USDC.  If the acquisition of Bridge by Stripe is completed, it will help it strengthen its position in the stablecoin market and will cement its position in the alternative payments market.

Stripe’s Partnerships 

In June 2024, Stripe integrated with Coinbase to create fiat-to-crypto on-ramps and off-ramps, greatly enhancing the transaction experience for users. This partnership simplifies processing time, minimizes transaction costs with the help of stablecoins, and caters to clients across 150 countries.

The recent addition of stablecoin support for payments on the main Stripe dashboard also shows that the company is eager to expand its services with cryptocurrency. As of October 9, Stripe has launched its payment through stablecoin by integrating Circle’s USDC Stablecoin. The integration drew users from over 70 countries on its first day of operation, proving that there is great demand for fiat tokens.

The integration of stablecoins is especially valuable for those who conduct transactions across borders, which is usually expensive and time-consuming. With the help of stablecoins, users can minimize the fees, which usually reduce the amount of money transferred to friends and family, making micropayments possible.

Stripe is not alone in the trend of increasing stablecoin services. Following the USDC integration, Paxos, the issuer of the Pax Dollar (USDP) stablecoin, launched a new payment platform targeting payment service providers. It is worth noting that the stablecoin market has expanded significantly in recent times, with the total market capitalization reaching $170 billion in September 2024. Some of the major players in this market include Tether (USDT), Circle (USDC), and PayPal (PYUSD).