Ramp adds bank-funded stablecoin bill payments

Ramp introduced stablecoin payments in Bill Pay and a separate stablecoin account product on 21 July, according to Stripe’s announcement. Bill Pay customers can fund a payment from an external bank account, with Bridge converting the dollars and sending stablecoins to the recipient’s wallet. The payer therefore does not need to start with a cryptocurrency holding. Stripe Ramp announcement.

The account product uses Privy’s wallet infrastructure to hold dollar-denominated stablecoins and displays fiat and stablecoin balances as dollars. Stripe says the accounts reconcile transactions with a customer’s existing accounting systems. Stripe says this reduces the work involved in round-the-clock supplier payments. Its statements about instant settlement and inexpensive transfers are provider claims, rather than a test of every corridor. The two products address different parts of the workflow: paying a bill using bank funds and holding a balance for later use. The release does not establish that all suppliers can accept wallet payments without their own setup. Stripe Ramp announcement.