Payment platform Stripe rolled out new stablecoin accounts and an AI foundation model at its annual user event in San Francisco, a company press release stated. The stablecoin-powered accounts will be available to businesses in 101 countries. This feature is one part of its newly updated money management capabilities.
Stripe has also announced 60+ additional launches across its full product suite, including 25 new payment methods, AI-enabled handling of disputes, and expansion of Stripe Tax to 102 countries.
“There are not one, but two, gale-force tailwinds, well off the Beaufort scale, dramatically reshaping the economic landscape around us: AI and stablecoins,” said Stripe CEO Patrick Collison. “Our job is to pull these technologies forward so businesses on Stripe can benefit from them right away.”
Apart from these new features, Stripe also announced a multi-currency feature in accounts for businesses that want to conduct transactions in USD, GBP, and EUR without paying hefty conversion fees. The multi-currency feature will be available for use for UK and US-based businesses first, then will roll out to the Eurozone later in the year.
“We’re building programmable financial services to make money as easy to manipulate and manage with code as data is,” said Will Gaybrick, who is the president of product and business for Stripe. “Across dozens of new launches we unveiled today, we’re putting AI and stablecoins to accelerate our users’ growth.”