Catenaa, Friday, October 3, 2025- Stripe has launched Open Issuance through its subsidiary Bridge, allowing businesses to create and manage their own stablecoins without relying on major issuers such as Tether or Circle.
The platform enables firms to mint and burn tokens freely, customize reserve structures, and participate in a shared liquidity network to facilitate one-for-one swaps between stablecoins.
Phantom Wallet, with over 15 million users, is the first major client to issue its native stablecoin, CASH, which will power payments, peer-to-peer transfers, and DeFi features.
Other tokens migrating to the platform include USDH, alongside stablecoins linked to MetaMask, Dakota, Slash, Lava, and Takenos.
Open Issuance handles security, compliance, reserve management, and liquidity, allowing companies to launch a stablecoin within days. Reserves may include cash and U.S. Treasuries through partners such as BlackRock, Fidelity, and Superstate.
Stripe acquired Bridge in February 2025 and has since expanded its crypto offerings, including a Bitcoin rewards credit card in partnership with Visa and Fold, and the acquisition of wallet infrastructure startup Privy.
The launch comes amid surging stablecoin market activity, with net inflows reaching $46 billion in the third quarter and total supply surpassing $290 billion. Ethereum hosts $171 billion of stablecoins, followed by Tron with $76 billion.
Analysts project the stablecoin market could reach $1.9 trillion by 2030, or $4 trillion in a bullish scenario.
Regulatory frameworks in the US, Australia, and Europe are evolving to address compliance, cross-border risks, and reserve requirements, supporting continued growth in corporate stablecoin issuance.
