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Ramp launches stablecoin Bill Pay and Stablecoin Accounts via Stripe
The new Stablecoin Accounts pay up to 3.25% rewards on eligible USD stablecoin balances, and stablecoin-funded payments can run around the clock for international vendors.
Ramp, an all-in-one corporate finance platform, launched two stablecoin products designed to separate payment use from balance custody. The updates include stablecoins as a payment option in Ramp Bill Pay, and a separate Ramp Stablecoin Accounts feature for holding, earning on, and moving digital dollars.
Both products run on Stripe infrastructure, using Stripe's Bridge for stablecoin orchestration and Privy for wallet services, according to The Defiant. Ramp said businesses can store funds and send international payments around the clock by opening a Stablecoin Account, then pay vendors using USDC or USDT funded from a USD bank account.
In Ramp Bill Pay, Stripe said Bridge converts dollars and sends funds to the recipient's wallet, so customers who do not hold crypto never directly touch stablecoins. For Stablecoin Accounts, Privy securely stores customer balances as US dollar-denominated stablecoins, and Ramp said eligible balances can earn up to 3.25% rewards, with no fees to convert between USD and USDC or USDT.
Ramp said stablecoins can be sent directly to vendor and contractor wallets in 140-plus countries, or converted to fiat to pay in 40-plus currencies. The Stablecoin Account is not available to customers in New York, and Ramp said more than 1,000 businesses already use stablecoins to pay vendors on its platform, with over 70% of that payment volume moving outside traditional banking hours.