Stripe Launches Open Issuance; Taps Big Reserve Partners

Stripe has launched Open Issuance via its Bridge unit, a platform that lets businesses mint, burn and manage custom stablecoins with a few lines of code, customize reserve mixes (cash versus treasuries), and deploy across multiple blockchains while accessing shared liquidity and built-in compliance and security tools. Stripe says the service can get companies issuing coins in days and powering payments, rewards and DeFi features. Reserve management on the platform will be handled in part by institutional partners including BlackRock, Fidelity and Superstate. Phantom is the first major client with its CASH token, and other issuers such as Hyperliquid and MetaMask coins are migrating to the platform as it seeks to challenge the dominance of Tether and Circle. Bridge plans to apply for a federal national trust charter and a New York trust license to meet evolving U.S. stablecoin rules under the GENIUS Act.