Stripe, a multinational financial services and software as a service company, has rolled out Open Issuance, a new platform that enables businesses to create, launch, and manage their own stablecoins.
The platform gives companies full control over their digital currency strategy removing reliance on third-party issuers, reducing fees, and unlocking new revenue opportunities through reserve rewards. By connecting every issuer into a shared liquidity network, Open Issuance makes it faster and easier for businesses across industries to bring stablecoins to market and scale globally.
Stablecoins are quickly becoming one of the most transformative tools in global finance. Companies worldwide are adopting them to receive payments, store value, and streamline treasury operations making it easier to reach customers, launch cross-border financial services, and reduce costs.
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Until now, most businesses have relied on stablecoins from a small number of external issuers. While these issuers offer scale, liquidity, and brand recognition, building on their infrastructure leaves businesses with little control. They remain dependent on third-party roadmaps, subject to unpredictable fees, and unable to participate in the economics of issuance.
Stripe introduction of Open Issuance, will enable companies to fully control the product experience, mint and burn coins without unnecessary restrictions or fees, and capture rewards from reserves. The platform also connects every issuer into a shared liquidity network, reducing costs and enabling businesses to get to market faster without reliance on a handful of incumbent providers.
Open Issuance is designed to support companies across sectors, which includes; Crypto platforms looking to control their economics and pass rewards to users, Fintechs offering stablecoins alongside fiat services. Also, Enterprises optimizing global treasury operations while earning yield, and Banks exploring stablecoin strategies to enhance consumer and business products.
The platform is already live with its first major use case. Phantom, a crypto wallet with more than 15 million users, has launched CASH, a new stablecoin built on Open Issuance. CASH underpins Phantom’s native money movement features, allowing users to spend, send, use across DeFi, or convert seamlessly to fiat and other stablecoins.
Several other projects are migrating their stablecoins to the platform as well. Open Issuance enables businesses to launch a stablecoin in just a few days. Stripe, alongside its partners, handles the core infrastructure—reserve management, liquidity, security, and compliance—while businesses focus on customers.
Nearly every aspect of a stablecoin can be customized, including; Supported blockchains, Smart contract functionality, Reserve composition, with allocations between cash and treasuries managed through top-tier partners such as BlackRock, Fidelity, and Superstate to help drive adoption, Open Issuance integrates with leading tools for onramps, offramps, wallets, and cards through partners like Bridge, Privy, and Stripe.
Notably, while liquidity is a key challenge for any new stablecoin, Open Issuance solves this by making all coins on the platform interoperable. Businesses can opt into one-for-one swaps between stablecoins, ensuring every new coin strengthens the network’s overall liquidity.
A new era of stablecoin issuance
With Open Issuance, Stripe aims to democratize the stablecoin landscape. Businesses no longer have to depend on a few dominant providers, they can issue, customize, and scale their own stablecoins while benefiting from a built-in liquidity network.
This marks a new step forward in how digital money is created, managed, and moved across borders.