Stripe has introduced the AI foundation model for payments and expanded its money management capabilities with stablecoin-powered accounts.
This development is aimed at enabling businesses to utilise AI and stablecoins to expedite their growth.
The Payments Foundation Model, trained on tens of billions of transactions, is designed to identify hundreds of nuanced signals for each payment.
Stripe plans to deploy this model across its payment suite to achieve performance enhancements that were previously unattainable.
Additionally, the company launched Stablecoin Financial Accounts, which will be available to businesses in 101 countries.
This follows Stripe’s acquisition of stablecoin platform Bridge three months ago.
These accounts will allow businesses to maintain balances in stablecoins, facilitate transactions on both crypto and fiat rails, such as ACH and SEPA, and send stablecoins globally.
Initially supporting USDC and Bridge’s USDB, Stripe aims to integrate additional stablecoins over time.
Bridge’s collaboration with Visa has led to the creation of the card issuing product, enabling stablecoin balances to be spent as effortlessly as fiat currency.
Furthermore, Stripe has introduced the capability for businesses to manage multicurrency balances within their existing Stripe accounts, starting with USD, EUR, and GBP.
This feature will assist multinational companies in avoiding foreign exchange fees and will be initially available to businesses in the US and the UK, with plans to extend to the Eurozone later this year.
Stripe’s new Orchestration tool will enable businesses to manage and optimise performance across multiple payment providers via the Stripe Dashboard.
The expansion of Stripe’s offerings includes support for 25 new payment methods, integration of Klarna with Stripe’s consumer payments product Link, compatibility of Stripe Terminal with third-party hardware, and the launch of Managed Payments.
Other enhancements comprise Smart Disputes, Radar support for ACH and SEPA, improvements to usage-based billing, and the availability of Stripe Tax in 102 countries.
Additionally, the company revealed its partnership with NVIDIA and PepsiCo.
Stripe product and business president Will Gaybrick said: “We’re building programmable financial services to make money as easy to manipulate and manage with code as data is. Across dozens of new launches we unveiled today, we’re putting AI and stablecoins to accelerate our users’ growth.”
Last month, Stripe enhanced its payment platform for businesses in Japan.
