Stripe launches Open Issuance, a Bridge-powered platform that lets companies create its own stablecoins, used by crypto wallet Phantom to issue its CASH token
a new stablecoin created with stripe + bridge w/ baked in developer rewards, stripe merchant support, and new phantom $ features, launching on solana. [video] Ryan Rasmussen / @rasterlyrock : Stripe will take home 50bps on every stablecoin issued on its new platform😵💫 Donnie Dinch / @donnie : One wallet. All your money. Today, @Phantom becomes more than a crypto wallet. We set out to build the next consumer finance platform. Today, that vision becomes real. Phantom Cash is here. Laura Shin / @laurashin : BREAKING: Bridge launched Open Issuance, a new product aimed to help EVERY company launch its own stablecoin 🏦 I spoke with Bridge CEO @zcabrams to talk all about Open Issuance, stablecoin fragmentation, interconnectedness of Stripe, Privy, Bridge and Tempo, and more. [video] @tbpn : Phantom's CEO @BChillman says the stablecoin market offers two options: USDC (with zero rewards) or creating your own (with massive overhead). They're building for the underserved “fat middle” with a neutral stablecoin that offers shared economics without the operational burden. [video] Ben O'Neill / @benhoneill : Bridge x Stripe This is just the beginning. @stripe : Introducing Open Issuance from Bridge (@stablecoin). Launch and manage your own stablecoin—with just a few lines of code. https://stripe.com/... [video] @afkehaya : Stable coin issuers will be the primary beneficiaries of the agentic economy. Good thing @corbits_dev and our x402 framework, Faremeter, work with all tokens on any network. We'll have no problem driving usage for any tokens issued through @stripe Liam Horne / @liamihorne : Every app is about to become a fintech, and every fintech is about to launch their own stablecoin. Zach / @zcabrams : Launching Open Issuance Stablecoins have arrived. Two years ago, we still faced a degree of skepticism over if and how financial services would adopt stablecoins, but today we're seeing neobanks, remittance companies, creator platforms, marketplaces, treasury teams, and more all Jeff Weinstein / @jeff_weinstein : New for AI app devs: Billing for LLM tokens with @stripe - Charge users for token usage (+X% margin) - Call LLMs with our proxy API or via partners: @OpenRouterAI, @cloudflare, @vercel, @helicone_ai - Update prices as models change costs Get access here: https://docs.stripe.com/... [video] Jen / @backseatvc : Stripe launched 5 big stablecoin products at Stripe Tour NY today: 🪙 Open Issuance: any business can create a stablecoin...and keep the earnings 🧑🍳 Onramp API: build a fully customizable onramp directly into your app 💸 Pay with CASH by @Phantom via Stripe stablecoin payments Daniel Harrison / @danielh9277 : We went to the restaurant & checked out the menu but there were no good options. “Nah, it's time to cook something new.” @stablecoin : 1/6 Today we announced Open Issuance, a new platform that enables any business to launch their own stablecoin. As stablecoins increase in adoption, businesses handling a large flow of funds need greater control of their product experience, roadmap and their economics. Open [image] @0xwatercup : Big launch from Stripe Stablecoins as a service, with reserve yield passed on to creators minus a 0.5% platform fee Creators have full control over mint/burn fees and reserve allocations 1:1 convertibility between Open Issuance stablecoins reduces liquidity bootstrapping pains [image] Cash / @usecash : 💰 Introducing CASH Designed by Phantom using Open Issuance by @stablecoin & @stripe, and launching first on Solana. CASH is a neutral, open-loop stablecoin backed 1:1 by USD — built for both crypto and real-world utility. [image] Brandon Millman / @bchillman : If you're a developer that wants to use stablecoins to augment your business w/o the overhead of launching your own, then CASH is a great option for you! Sign up at: https://usecash.xyz/. Mike Dudas / @mdudas : love seeing @6thManVentures portco @dakota_xyz as one of @stripe's key stablecoin launch partners future-proofed business banking [image] Neetika Bansal / @neetikabansal : Store funds in multiple currencies—including stablecoins—with Financial Accounts. 💱 Convert between currencies instantly ✉️ Send money to anyone globally with just their email 💳 Create virtual and physical spend cards (powered by @Mastercard) to spend from your balance Now [video] Ben O'Neill / @benhoneill : @JasonYanowitz knows what everyone is learning. Built on https://bridge.xyz/. Kayla Phillips / @kay_phillips_ : I'm just leaving Stripe Tour NY, where @stripe announced a suite of new product offerings that are largely Crypto & AI focused. Here's a recap: Open Issuance: - Stripe/Bridge is launching the Open Issuance platform, enabling its business customers to launch their own @tbpn : Bridge co-founder @zcabrams says the stablecoin oligopoly is ending. Stablecoins are platforms, not just assets. With their new “Open Issuance”, anyone can issue their own and capture the underlying economics (like the 4% yield). [video] Charley Ma / @charleyma : I've been extremely impressed at how fast Stripe has moved with bridge and privy acquisition to shipping new stablecoin infrastructure - will be on the same tier as facebook's acquisition of instagram. Stablecoin as infrastructure and enabling more competition on yield is 👌 Elad Gil / @eladgil : They should rename Stable Coins -> Striple Coins Joe Wadcan / @joewadcan : On top of all the new @phantom features, the bigger news is @useCash ! This will be THE dominant stablecoin, combining @phantom user distribution + automatic merchant acceptance in @stripe checkout AND all the yield going back to the originating app. I'm so proud of the Brandon Millman / @bchillman : Today marks a turning point in Phantom's quest to become a global, crypto-first consumer finance platform. We announced two major products that bring us closer to that vision. 1. CASH is an open-loop, neutral, @solana-first stablecoin designed by Phantom using Open Issuance by Yano / @jasonyanowitz : Phantom is in the stablecoin game with CASH. Sounds like devs + businesses who originate CASH keep the net revenue. Built on Bridge/Stripe. [image] Patrick Collison / @patrickc : 🆕: We're announcing Open Issuance to help stablecoins go mainstream. • Customizable smart contracts. • Issuance on any blockchain(s). • Reserve management. • Full control over mint and burn fees. • Out-of-the-box interoperability with other Open Issuance stablecoins and LinkedIn: Bob van Winden : Excited to announce what we've been working on: Open Issuance, a new platform for businesses to launch their own stablecoin. …
Context & Ripple Effects
Stripe’s crypto strategy has moved from supporting crypto businesses and restoring USDC and USDP merchant payments to testing Bridge-based stablecoin payments for companies outside several major markets. Open Issuance extends that arc from accepting third-party tokens to supplying the issuance and operational layer behind them.
Phantom is the first named wallet to use the platform, pairing a Solana launch with planned acceptance in Stripe Checkout. That makes the product a test of whether a wallet-issued token can travel through both consumer-facing crypto software and mainstream merchant payments.
First-order effects
- Stripe and Bridge now provide businesses with configurable issuance, reserve-management and mint/burn-fee controls rather than only payment acceptance; Stripe also collects a 0.5% platform fee on issuance through the service.
- Phantom can launch CASH as a branded consumer-finance product while using Stripe’s merchant-payment path and Bridge-powered operating infrastructure; CASH begins on Solana.
Second-order effects
- Wallets, fintechs and other would-be issuers can compare building their own stablecoin stack with using Stripe’s managed route, putting pressure on issuance providers to compete on interoperability, controls and distribution.
- Stripe Checkout support gives participating issuers a direct reason to prioritize merchant acceptance, building on Stripe’s earlier return to US stablecoin payments rather than treating stablecoins solely as wallet balances.
Third-order effects
- If multiple issuers adopt the platform, stablecoin issuance could become a platform feature bundled with payments, accounts and developer APIs, shifting differentiation toward distribution and payment acceptance rather than token creation alone.
- The platform’s promised interoperability is consequential because branded stablecoins can otherwise fragment liquidity and merchant integrations; its effectiveness will depend on whether issuers and payment endpoints actually adopt common rails.
The trend: Payment platforms are moving from supporting stablecoin transactions to owning the deployment, operational and merchant-distribution layers for issuer-branded digital dollars.