Stripe has launched testing for a new US dollar stablecoin aimed at companies outside the United States, UK, and Europe, following its acquisition of the stablecoin payments network Bridge. CEO Patrick Collison announced the initiative on X, inviting companies to participate in the testing. The project is described as a longtime ambition for Stripe, particularly gaining momentum after receiving regulatory approval for Bridge. The Bridge network competes with traditional banking systems like SWIFT, highlighting its potential impact on international wire transfers. This move aligns with Stripe's renewed focus on crypto, which began with Bitcoin integration in 2014, although it was temporarily halted due to issues like high fees and transfer times. Recent efforts include the introduction of a stablecoin payment option in 2024 and facilitating fiat-to-crypto conversions. The stablecoin market continues to grow, with a current market cap of $237.5 billion, indicating increasing interest at the federal level regarding USD-backed stablecoins.

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