Stripe Sees Stablecoin Adoption Soar Amid Crypto Market Downturn

Stripe's annual letter highlights the growing adoption of stablecoins, despite the current 'crypto winter' market conditions. The company's acquisition of Bridge, a stablecoin orchestration platform, has seen transaction volume quadruple last year, according to the letter.

The firm also announced plans to launch the mainnet of Tempo, its payments-focused blockchain developed with crypto firm Paradigm. This move is part of Stripe's efforts to integrate crypto technology into its payment network.