Stripe, Inc.

(1) Stablecoin payment and settlement services Stripe collaborates with Bridge (acquired in February 2025 for approximately $1.1 billion) to provide stablecoin settlement services, promoting its "Stablecoin Financial Accounts" (ledger insights) in 101 countries/regions, supporting major stablecoins such as USDC and its own USDB (the same-name asset launched by Bridge) (ledger insights). (2) Crypto Channel (On Ramp)

• Provide Fiat-to-Crypto on-ramp functionality: Users can purchase cryptocurrencies (such as Ethereum and USDC) through embedded or hosted gateways by Stripe when shopping on e-commerce, DApp, and other platforms, and immediately use them for on-chain operations after settlement (Stripe).
• Collaborate with Blockchain.com to optimize the process of fiat to cryptocurrency exchange, improve payment success rates, and enhance fraud resistance (Stripe). (3) Crypto Withdrawal Service (Payout) Stripe allows platforms to use stablecoins (such as USDC) to directly pay funds to user wallets or bank accounts, with the process automated and integrated into products like Stripe Connect (Stripe documentation).

i. Pay service fee Stripe charges a technical service fee during the user's payment or withdrawal process, including a basic payment processing fee + a stablecoin settlement fee. The specific rates depend on the transaction volume and the country/region. ii. Exchange Rate and Liquidity Spread When users settle with cryptocurrency assets, Stripe can earn a small profit through automatic conversion and the exchange rate difference in cross-border clearing. iii. Currency Reserves and Arbitrage Opportunities Stripe hosts a large amount of stablecoins (USDC, USDB), earning interest through fund pool management and cross-currency exchanges, while enhancing platform stickiness and locking in enterprise customers.

1. Reducing Cross-Border Payment Costs and Delays: Stablecoins have low-cost and high-efficiency characteristics in the global market, strengthening Stripe's core position in the global payment infrastructure.

2. Expanding User Ecosystem and Securing Market: Supporting the integration of Web3 platforms, cryptocurrency exchanges, gaming projects, etc., to increase product penetration.

3. Dual Drive of Risk Control and Innovation: Stripe integrates Radar (anti-fraud), KYC/AML, making its stablecoin products compliant and trustworthy.

4. Market Differentiation: Unlike traditional payment competitors (such as PayPal and Visa), Stripe has taken the lead in the stablecoin space, establishing a first-mover advantage.

1. USDC: The primary supported currency, widely used in "Stablecoin Financial Accounts," playing a core role in settlement and circulation.

2. USDB (Bridge Issuance): Stripe launches its own USDB account service, with plans to expand support for other stablecoins in the future.

3. Other main chain coins (such as ETH, SOL, MATIC, etc.) are supported through On Ramp, allowing for direct purchase of ETH (or USDC settled on the ETH chain).