Ramp uses Stripe to power stablecoin payments and accounts

• Access instant, 24/7 bank-funded stablecoin payments with Ramp Bill Pay.
  
• Hold, grow, and move stablecoins with Ramp Stablecoin Accounts.
  

SAN FRANCISCO AND DUBLIN-Stripe, the programmable financial services company, is powering two new stablecoin products from Ramp.

Ramp is adding stablecoins as a payment option in Bill Pay, allowing customers who don't own crypto to benefit from the instant, inexpensive, and 24/7 nature of stablecoins-without ever touching the stablecoins themselves. Ramp customers can now pay bills with stablecoin payments funded from an external bank account, with Stripe's stablecoin orchestration platform Bridge converting the dollars and sending the funds to the recipient's wallet.

Ramp is also launching stablecoin accounts allowing users to hold balances, pay anywhere in the world at any hour, and earn up to 3.25% in rewards. Stripe's crypto wallet infrastructure provider, Privy, securely stores customer balances as US dollar-denominated stablecoins. Ramp customers simply see a single balance across stablecoin and fiat accounts displayed as dollars. Transactions settle instantly, any time of day or night, meaning a US business could pay a supplier based in India in minutes, outside of regular banking hours.

"For Ramp customers, a dollar is a dollar, whether it's stablecoin or traditional fiat currency," Andrew Chapello, product at Ramp, said. "Stripe's stablecoin APIs make it easy to deliver that experience to our customers. Businesses can now hold and send stablecoins without any prior crypto expertise."

Ramp Stablecoin Accounts reconcile every transaction with customers' existing accounting systems. One Ramp beta customer found that stablecoin payments made up roughly 10% of its vendor payments but consumed 50% of its accounts payable time. Ramp Stablecoin Accounts are built to solve this problem.

"The world's fastest-growing fintechs, like Ramp, are building on internet-native rails with stablecoins," Henri Stern, CEO and cofounder of Privy, said. "We are proud to see Ramp use Stripe's stablecoin stack to provide incredible products that uniquely solve their customers' challenges globally."