Stripe Bridge will begin to publish openly. Controls product economics with independence from dominant external publishers and the ability to issue and manage company’s own Stablecoins, configure reserves with institutional partners, and connect to a network of interchangeable Stablecoins.
The key feature here is Stablecoin as a standalone product. The publisher selects supported blockchain and smart contract features, defines a balanced reserve mix of cash and finance with partners such as BlackRock, Fidelity Investments, SuperState, and obtains pre-made Onramp/Offramp channels, wallets, bridges, Privy, and Stripe cards.
“Open Issuance is a new platform that allows any business to launch and manage their own Stablecoin.”
“With our own Stablecoin, businesses can control the product experience, control mint and burns without restrictions or unnecessary fees, and get rewards from reserves.”
Built-in liquidity and unified swap network
One of the most important things is to aggregate issuances into a single network where the issuer’s coins can exchange at a one-to-one rate, eliminating conversion cascades, reducing operational friction for stable exchanges, and enable immediate on-chain swap in the middle. As a result, for publishers, the release cost does not depend on creating an independent market production from day one. Translations within the network are predictable for users.
“The introduction of new Stablecoins presents a clear challenge: building liquidity. Open issuance solves this by design. Companies can enable Stablecoins to be interoperable (one-to-one swap) with other open issuance Stablecoins.”
And this is not purely theoretical. Phantom already has a live case, a wallet with an audience of over 15 million people, and launched its own Stablecoin Cash with an open publication. Cash is positioned as the backbone of native money move features, including spending, P2P transfers, use in defi, conversion to Fiat and other stubcoins. In parallel, Bridge is moving existing issuances to platforms including USDH, high lipid native Stablecoin, Metamask, Dakota, Slash, Lava and woven coins.
“In the future, Phantom Cash users will be able to exchange funds with other open-issued stub coins using on-chain, immediate, unauthorized transactions. No intermediaries are required.”
A fundamental change to economic model publishers
This is an ambitious initiative aimed at moving away from the traditional model of building on someone else’s stub coins, relying on the roadmap and fees of third-party issuers, without taking part in the economics of assets. Instead, the platform proposes a Stablecoin-as-a-product model with controlled issuance and redemption, spare configuration, and customer experimental parameters, but is compatible with other coins in the network through one-to-one swaps. It’s very promising. We will look closely to see if it really is a popular and safe and effective solution. Stay tuned for the latest updates and opportunities in the development of new economies, crypto industry and blockchains.
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