Stripe and Plasma partner to develop multi-currency stablecoin cards

Stripe and Plasma have announced a partnership to develop multi-currency payment cards designed to facilitate stablecoin transactions. Plasma will serve as a design partner to enhance the card experience, aiming to simplify international payments and reduce foreign exchange costs for businesses and consumers.

The proposed cards are expected to support several currencies, including the US dollar, Brazilian real, euro, Mexican peso, Colombian peso, and Peruvian sol. The infrastructure will also support stablecoins such as USDC and OUSD. The initiative includes features like multi-currency balance management and automatic currency selection to streamline global transactions.

Following the announcement, Plasma’s native token, XPL, experienced a price increase of approximately 10.92%, with a significant rise in 24-hour trading volume and derivatives market activity. While Stripe’s card infrastructure currently operates in over 30 countries, the company aims to expand its reach to more than 100 countries by 2027.