Stripe Launches Open Issuance for Custom Stablecoins

Key Points:

• Stripe’s Open Issuance lets businesses issue stablecoins with code and custom reserves.
• Agentic Commerce Protocol allows AI agents to transact while merchants keep control.
• Stripe’s share price is $36.29 with $92.37B valuation and $8.45B in funding.

Stripe has introduced Open Issuance, a new stablecoin issuance platform unveiled at its annual New York showcase. The launch underscores Stripe’s ambition to bring stablecoins into mainstream financial workflows.

The service, powered by Bridge, allows businesses to create, mint, and redeem their own stablecoins with minimal technical effort. Firms can customise liquidity strategies and reserve allocations between cash and treasuries.

Reserves will be managed by partners including BlackRock, Fidelity Investments, Superstate, and Lead Bank to ensure compliance and liquidity. Open Issuance also provides interoperability, with Bridge’s orchestration API enabling cost-efficient conversions between different stablecoins.

Phantom’s CASH stablecoin is the first token issued through the platform, while MetaMask’s mUSD and Hyperliquid’s USDH will follow. Stripe emphasised that the system lets businesses retain yield benefits and reduce costs compared to third-party issuers.

Additionally, Stripe expanded payment services to include recurring stablecoin transactions, balance storage, card-based spending, and cross-border transfers. These capabilities reflect growing market demand, with stablecoin supply climbing 57% over the past year.

AI Tools Power Agentic Commerce Expansion

Stripe also launched the Agentic Commerce Protocol, developed with OpenAI, enabling AI agents to transact directly with merchants. This standard ensures merchants retain control over brand, catalogue, fulfilment, and customer relationships during AI-driven transactions.

Early adopters include Microsoft Copilot, Anthropic, Perplexity, and Replit, which are testing the protocol in live environments. Stripe further introduced monetisation tools for AI firms, including hybrid pricing models and APIs to track inference costs in real time.

Stripe Radar has been upgraded to block recurring trial abuse, a common challenge for AI platforms. The system now prevents up to 62% of fraudulent trial activity without disrupting legitimate users.

In total, Stripe announced over 40 new products, including global tax expansion, checkout upgrades, and new payment hardware. Together, the launches highlight Stripe’s push to embed stablecoins and AI into mainstream commerce.

Stripe’s private share price is $36.29 as of Sept 29, 2025, up 45.16% year-to-date. The company’s estimated valuation stands at $92.37B. Stripe has raised $8.45B across eight funding rounds, with the latest on Feb 27, 2025.

The most recent share class is Tender Offer 2, and shares stabilised in the $35–$36 range after surging earlier this year.