TLDR
- Stripe launched Open Issuance, a platform that lets companies create custom stablecoins with minimal coding requirements.
- Phantom’s CASH token is the first stablecoin to launch through the platform, with Hyperliquid’s USDH and MetaMask’s mUSD joining soon.
- The platform uses infrastructure from Bridge, which Stripe acquired for $1.1 billion last year.
- Stripe introduced the Agentic Commerce Protocol with OpenAI to enable transactions between merchants and AI agents.
- Asset management for stablecoin reserves is handled by BlackRock, Fidelity, Superstate and Lead Bank.
Stripe announced a new stablecoin issuance platform and AI commerce tools at its New York showcase on Tuesday. The payments company is expanding its blockchain business with products designed for digital dollars and artificial intelligence transactions.
Introducing Open Issuance from Bridge (@stablecoin). Launch and manage your own stablecoin—with just a few lines of code. https://t.co/lX1VYHmuER pic.twitter.com/87WNy8WXcU
— Stripe (@stripe) September 30, 2025
The platform called Open Issuance allows companies to create their own stablecoins. Businesses can mint and redeem tokens using just a few lines of code.
The system is built on infrastructure from Bridge, a stablecoin platform Stripe bought for $1.1 billion last year. This acquisition now forms the foundation of Stripe’s stablecoin services.
Phantom’s CASH token will be the first stablecoin issued through the new platform. Phantom is a popular crypto wallet provider.
Two other stablecoins will join the platform soon. Hyperliquid’s USDH and MetaMask’s mUSD are both set to use Open Issuance.
Stripe said more projects are already waiting to launch through the platform. The company is positioning Open Issuance as an alternative to building on existing stablecoins.
“If money movement is core to your business, you should build with stablecoins,” said Zach Abrams, CEO of Bridge. He emphasized that businesses should control their own tokens rather than depending on someone else’s coin.
Stablecoin Reserve Management
Companies using Open Issuance can customize their reserve balances. They can split reserves between Treasury securities and cash.
Asset management is provided by major financial firms. BlackRock, Fidelity, Superstate and Lead Bank handle reserve management for issuers.
Stripe built the platform to work across different tokens. The network aims to reduce conversion costs between stablecoins.
AI Payment Standard
Stripe also introduced the Agentic Commerce Protocol in partnership with OpenAI. The protocol lets merchants process payments from AI agents.
Merchants maintain control over order fulfillment and customer relationships through the system. Microsoft Copilot and Anthropic are testing the standard.
The AI commerce tools are part of Stripe’s broader strategy to integrate new technologies. The company has made several blockchain acquisitions recently.
Stripe bought crypto wallet provider Privy earlier this year. This purchase added more crypto infrastructure capabilities to Stripe’s existing tools.
The company is developing Tempo with crypto venture firm Paradigm. Tempo is a blockchain designed specifically for processing payments at high volume.
Will Gaybrick serves as Stripe’s president of technology and business. He stated the company is working to move new technology from experimental phases into mainstream use.
