SS #141 - Stripe Takes Stablecoin Cards Global · Storyflo

SS #141 - Stripe Takes Stablecoin Cards Global · Storyflo

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Stripe is treating stablecoins less as a crypto product than as invisible plumbing, and its push to take stablecoin cards into 100 countries by year-end, backed by a stack spanning Bridge, Privy, Tempo, and Open USD, tests whether crypto’s biggest adoption wave will come from users who never realize they are spending digital dollars.

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In Today’s Edition:

**Headline:Stripe Takes Stablecoin Cards GlobalQuick Bites:China P2P Stablecoin Wallets Grew 43xYield of the Week:**40 Acres USDC Vault (Harvest)’s 32.91% APY

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HEADLINE

**State of play: **Stripe plans to push its stablecoin card programs into more than 100 countries by year-end, betting that digital dollars win not by replacing fiat rails but by slotting quietly into payment products businesses already use.

Privy co-founder Henri Stern now oversees stablecoins and crypto across Stripe, following Privy’s acquisition last year.

Stablecoin card spending reached about $1.2B last month according to Paymentscan, triple the level a year earlier.

The offering pairs Stripe’s issuing business, with over 400M cards issued since 2018, with Bridge, acquired for $1.1B in 2024.

Kraken, Ramp, and Morse are current customers, with Ramp able to enter new markets without rebuilding local banking connections.

Stripe says it will stay stablecoin and blockchain agnostic despite backing Tempo and Open USD, while also exploring tokenized deposits and DeFi.

**What’s Next: **Watch whether the 100-country rollout lands by year-end and which new card partners Stripe signs to fill it.

**Why it Matters: **Stripe’s merchant and issuing reach gives stablecoin cards a distribution channel no crypto-native firm can match.

**Our Take: **“Agnostic” is a hard claim for a company that now owns the wallet, the on-ramp, the chain, and a stake in its own stablecoin, so expect Stripe to steer the defaults.

QUICK BITES

AavehikesGHO borrow rates to rescue depleted stablecoin pools.China P2P stablecoin walletsgrew43x despite crypto restrictions.Stripeto expandstablecoin cards to over 100 countries by the end of the year.

YIELD OF THE WEEK

The vaultaccepts USDC deposits on Base and automatically compounds yield by supplying USDC to the 40 Acres Lending Vault, with ~$1.84M in TVL and harvesting rewards every few hours.Capital is deployed into 40 Acres’ lending vault where veAERO holders take self-repaying, non-liquidatable USDC loans against their veNFT collateral, with epoch rewards claimed every Thursday repaying loans and distributing yield.

Yield is generated from veAERO voting income and loan interest, compounding automatically at 32.91% live APY with a current share price of 1.17362 USDC, at 0% convert and revert fees.

The vaultaccepts USDC deposits and runs a market-neutral multi-strategy approach combining quantitative rate-arbitrage and options strategies across Derive, Hyperliquid, Aave, and Morpho, with ~$13.11M in TVL near its $15M cap.Capital is primarily deployed into Derive (~$8.03M), Aave V3 (~$2.44M), and Hyperliquid (~$1.46M), with leveraged wstETH positions on Aave generating USDC borrowing capacity for yield strategies.

Yield is generated from rate-arbitrage and options strategies with no directional crypto exposure, delivering a 30-day APY of 26.72%, net of a 2% platform fee and 20% performance fee, with standard withdrawals processed within 31 days.

The poolaccepts sUSG deposits and provides liquidity for Tangent Finance’s yield-bearing stablecoin backed by protocol revenues from Curve LP and Pendle PT collateral.Capital is split across sUSG SY (~$77.41k, 43.98%) and PT sUSG (~$98.61k, 56.02%), earning a blended yield from PENDLE rewards and underlying USG yield plus 3.14 daily PENDLE rewards.

Yield is generated from Tangent Finance’s protocol revenues autocompounded into USG, with LP APY composed of 16.06% PENDLE rewards and 13.12% USG yield, distributed every 7 days.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.