Stern is the CEO and co-founder of Privy, a crypto wallet infrastructure firm acquired last year by Stripe, and he has taken on the additional role of overseeing stablecoins and crypto across Stripe, according to the report.
Stripe plugs stablecoin cards into its existing infrastructure. The company’s stablecoin card offering combines Stripe’s issuing business, which has issued more than 400 million cards since 2018, with Bridge’s stablecoin infrastructure. Stripe acquired Bridge in 2024, per the report.
Stripe’s card business is “completely stablecoin agnostic, completely blockchain agnostic,” so that the company’s customers can “mix and match their stack in exactly the way they want,” Stern said in the report.
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Stern announced in a Monday article on X that he is now leading crypto and stablecoins at Stripe while continuing his role at Privy.
“In this new role, I will be helping set Stripe’s priorities in the space and build (what we hope to be) the very best stablecoin developer platform: one that is open and complete, modular and cohesive, global by default,” Stern said in the article.
Visa announced in March that it was expanding its partnership with Stripe-owned Bridge and that the companies would extend the global card issuance product they introduced in 2025.
“Bridge enables businesses and FinTech developers to offer stablecoin-backed Visa cards,” Visa said at the time in a press release. “Now, through Bridge’s partnership with Lead Bank, these card transactions can be settled on-chain with Visa.”
At that time, the companies had brought their partnership on stablecoin-linked cards to 18 nations and were planning to expand it to over 100 countries in Europe, Africa, the Middle East and Asia Pacific by the end of the year.
Stripe announced Wednesday (Sept. 30) that Open USD (OUSD) has joined the other stablecoin options available to businesses running on Stripe’s financial infrastructure.
OUSD, which is described by its builders as a “money movement stablecoin,” was announced June 30 and went live Wednesday.
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