Stripe said on Oct. 15 it will work with stablecoin company Plasma to develop a stablecoin card that can be used to pay in multiple national currencies. The partners aim to make it easier for people and companies to spend across countries and markets. The card is intended to enable payments using currencies users already hold, cutting unnecessary foreign exchange and related costs, and making overseas payments as convenient as domestic ones.

As stablecoin payments move into mainstream financial infrastructure, the ability to secure local currency liquidity and handle foreign-exchange settlement is becoming a key competitive factor. Visa’s new stablecoin platform lets banks, fintechs and payment firms hold, transfer and redeem stablecoins in its environment. But broader adoption may depend less on moving tokens and more on converting funds into the recipient’s desired currency within existing FX rules and settlement systems.