The brief

Analyst view

• Stripe paid $1.1B (closed Feb 2025), one of the largest crypto acquisitions to that point.
• Open Issuance (Sep 2025) powers Phantom's CASH, MetaMask's mUSD and Klarna's KlarnaUSD.
• Won conditional OCC approval for a national trust bank charter in Feb 2026.

Technical approach

As reported

Orchestration

One API between dollars and stablecoins

Bridge converts between bank money and stablecoins and across blockchains, handling compliance, so a business never touches the crypto plumbing.

Issuance

White-label stablecoins

Companies launch their own branded token; Bridge mints it and invests reserves in Treasuries, sharing the interest income with the issuer.

Spend

Cards and wallets on top

Stablecoin balances link to Visa cards and hosted wallets, so users can spend tokens at ordinary merchants.