Stripe Partners with Plasma to Launch Multi-Currency Stablecoin Card, Aiming to Reduce Cross-Border FX Costs

BlockBeats news, October 15: Stripe announced a partnership with Plasma to develop a multi-currency stablecoin card, aimed at allowing individuals and businesses to spend in the currencies already held in their accounts, reducing unnecessary currency conversions and foreign exchange costs. Plasma will serve as a design partner, integrating with Stripe's stablecoin card infrastructure to enable customer account balances to be used for payments via multi-currency cards.

The expanded infrastructure will support the US dollar, Brazilian real, euro, Mexican peso, and Colombian peso; stablecoins include USDC, OUSD, and eligible stablecoins that comply with the GENIUS Act requirements. Stripe's stablecoin card service currently covers more than 30 countries and plans to expand to more than 100 countries by 2027.

For example, users holding euros will in the future be able to spend directly in euros without first converting to US dollars; businesses can issue cards in currencies that match their own spending needs. Stripe also plans to support cardholders in spending from multiple account balances and automatically selecting the appropriate currency at the time of purchase.