Stripe has announced that it is commencing tests for a new stablecoin payment solution designed for businesses located outside the United States, the United Kingdom, and the European Union. The company’s CEO, Patrick Collison, revealed via social media that the foundation for this launch has been in the planning stages for almost ten years and is now open to selected pilot users.

Key Highlights:

• Stripe is inviting firms beyond the US, UK, and EU to experiment with its latest stablecoin tool.
• This initiative follows regulatory approval for Stripe’s acquisition of Bridge, a company founded by former Coinbase leaders Zach Abrams and Sean Yu. Bridge aims to provide a contemporary alternative to traditional international transaction systems like SWIFT.

The launch arrives at a moment when numerous businesses, including crypto companies and traditional financial institutions, are showing interest in the rapidly growing stablecoin market. Citi has noted that stablecoins could herald a significant shift, potentially reaching a market size of $3.7 trillion by 2030 with adequate regulatory support.

Stripe has a rich history in cryptocurrency; it was the first major payment processor to enable Bitcoin transactions in 2014, although it subsequently discontinued the service due to BTC’s transaction efficiency issues.

To read more: Stablecoins Are a ‘WhatsApp Moment’ for Money Transfers, a16z Says