Stablecoin infrastructure for banks and payment firms

Stripe's guide to stablecoin infrastructure starts with issuance: tokens are minted and burned so that supply never exceeds the reserve, which sits in cash and short-term instruments. The second layer is the blockchain, where speed, fees and reliability differ by network and an outage on one chain can stall payments. Wallets and custody follow, with keys protected by hardware security modules or multi-party computation and approval workflows.

On top sit APIs for payments, treasury, payouts and on-ramps, plus an orchestration layer that handles gas fees, nonces and confirmations. The last layer is compliance: identity checks, AML and sanctions screening, onchain analytics, travel rule data and reconciliation of onchain balances with the books.

A firm that wants its own token can rent most of the stack. BitGo offers a white-label app for minting and burning, KYC onboarding, a policy engine and cold storage, holds the reserve assets in its custody and reconciles them daily. BitGo designs the service for the US GENIUS Act and leaves issuers outside the US responsible for their own legal requirements.

In the EU the license cannot be rented. Under Article 48 of MiCA the issuer of an e-money token must be a bank or an e-money institution, so a technology provider can run the platform while the regulated entity remains the issuer. The e-money license page covers that license in Germany.

Many users spread activity across several networks and use network-agnostic APIs, Stripe notes, which spares them from running their own nodes. For keys, the choice is between a regulated custodian, which eases audits and reporting, and self-custody, where a lost key or a weak approval process can cause permanent loss. The stablecoin custody page, the node infrastructure page and the payment orchestration page go deeper into each layer.

Finance Loop is the meeting place for engineers, product owners and bankers who build stablecoin services, a subject of its Digital Infrastructure & Sovereignty track. At Capital & Code in Frankfurt, hosted by AllUnity with Finance Loop as media partner, Mastercard, AllUnity, Worldline and PayPal discuss the future of payments. Finance Loop also partnered with the London Blockchain Finance Summit, where tokenized deposits in production were on the program.

The technology and services that let a firm issue, hold, move and monitor stablecoins: issuance and reserve management, blockchains, wallets and custody, APIs and compliance tools.

A provider runs minting, burning, reserve custody and onboarding for a company that wants its own stablecoin under its brand. The company, or a licensed partner, remains the legal issuer.

It can outsource the technology and the custody of reserves to providers. The issuance itself stays with the bank, since MiCA allows only banks and e-money institutions to issue e-money tokens.