Stripe launches stablecoin-linked credit card service through its Bridge partnership with Visa

payment technology company Stripe announced a partnership with Visa to launch a stablecoin-linked credit card service, which will be implemented through its stablecoin platform Bridge acquired for $1.1 billion in October 2024. The service will initially be launched in Latin American countries such as Argentina, Colombia, Ecuador, Mexico, Peru, and Chile, allowing users to directly use stablecoin balances to make purchases at Visa merchants. Bridge will be responsible for handling the exchange settlement between stablecoins and fiat currencies. By integrating stablecoins - digital currencies pegged to stable assets such as the US dollar - Stripe and Visa aim to facilitate faster and cheaper cross-border transactions, especially in regions with underdeveloped payment infrastructure.