Payment platform Stripe has temporarily suspended its stablecoin payment card program after it was exposed to fraud following the launch of the product through Bridge, a stablecoin infrastructure startup it acquired for $1.1 billion, The Information reported.

Stripe earlier introduced Bridge stablecoin card features that provide wallet functions to store, trade and pay with cryptocurrencies. In January, it also released a public version of the Bridge stablecoin card in cooperation with crypto company Fuse.

Stripe later found that many suspicious customers were flowing into a new card program with Fuse and temporarily suspended the program.

According to The Information, Stripe introduced a prepaid card product using stablecoins through Bridge and moved to expand partnerships centered on Latin America and Africa.

But Stripe's plan to build a borderless payment infrastructure through stablecoins also ran into practical barriers, including sanctions risks and relationships with bank partners.

Bridge is also strengthening measures to block high-risk regions and industries to maintain trust with banks that are key partners in its payment system. It has blocked customers in Venezuela and recently added certain industries such as weapons, precious metals and luxury goods to the restricted list. The measures follow earlier concerns over the risk of U.S. sanctions arising from transactions with Venezuelan users.