Overview

• Stripe’s Bridge unit released Open Issuance, a platform for businesses to mint and redeem their own stablecoins with a few lines of code.
• Phantom Wallet is the first issuer on the platform with its CASH token, with additional Bridge-issued coins migrating to create immediate network effects.
• Hyperliquid’s USDH and MetaMask’s mUSD are moving onto Open Issuance, with other projects such as Dakota, Slash, Lava and Takenos in the pipeline.
• Issuers can customize reserve composition across cash and U.S. Treasuries, with asset management handled by partners including BlackRock, Fidelity, Superstate and Lead Bank.
• Stripe also unveiled the Agentic Commerce Protocol developed with OpenAI, allowing merchants to transact with AI agents as partners like Microsoft Copilot and Anthropic test the standard.