Stripe is launching a platform that lets any business issue its own stablecoin with customizable reserves and direct access to shared liquidity networks, directly challenging the market dominance of giants like Tether and Circle.
Summary
- Stripe’s Bridge unit launched “Open Issuance” on Tuesday, enabling businesses to issue their own stablecoins.
- The move challenges Tether and Circle by offering customizable reserves and shared liquidity.
- Phantom wallet is the first partner, launching its new CASH stablecoin for 15 million users.
According to an announcement on Sept. 30, Stripe’s crypto unit, Bridge, is launching “Open Issuance,” a platform designed to let companies from fintechs to traditional banks create their own branded stablecoins
Stripe said the infrastructure handles reserve management, compliance, and security, allowing businesses to launch a customized digital currency in a matter of days. The model has already attracted its first major partner: Phantom Wallet is using it to launch its new CASH stablecoin for its 15 million users.
Why Stripe is betting on stablecoin infrastructure
Stripe noted that businesses are increasingly using stablecoins to receive payments, manage treasuries, and launch cross-border financial services. The current bottleneck is that nearly all of this activity depends on a small set of issuers.
Tether and Circle dominate the market and, while their tokens are liquid and widely recognized, Stripe argues that their control leaves businesses exposed to fees, roadmap shifts, and economics that accrue to the issuer rather than the user. Open Issuance is framed as a solution to that imbalance, giving companies tools to capture those benefits directly.
According to the announcement, the platform’s mechanics are designed for speed and customization. Bridge manages the complex backend of reserve custody, often through partners like BlackRock and Fidelity,
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Author: Brian Danga
