Payment giant Stripe may launch its own Blockchain network

Recently, there have been reports in the cryptocurrency sector that a certain payment service giant may plan to launch its own Blockchain mainnet. As a global leading payment service provider, the company serves as a technological bridge among merchants, acquiring institutions, card networks, and issuing banks, ensuring the efficiency and security of transactions.

If the company truly launches a Blockchain mainnet, it may support stablecoin payments under basic circumstances and deeply integrate its Blockchain with customer payment and merchant settlement systems. Ideally, this could completely reshape the payment system, including the following aspects:

1. Bypass traditional financial institutions to achieve direct payments;
2. Develop a micropayment subscription model that is difficult to achieve with traditional systems;
3. Generate returns on the Blockchain through short-term deposit balances.

Currently, the company mainly operates as a payment gateway and acquirer. If it launches its own Blockchain network, it is expected to replace some roles of traditional issuing banks and card organizations, which could become a historic turning point for the payment industry.

Blockchain project feasibility analysis

Although there has not yet been official confirmation, multiple sources have mentioned this plan. Similar to a certain online brokerage launching stock tokenization features based on a certain Layer 2 network, this payment giant could be the next large fintech company to enter the Blockchain space.

The company's mission is to "enhance the Internet GDP" and is committed to building global economic infrastructure to help manage online payments, operations, and growth for startups to large enterprises. From this vision, Blockchain technology is undoubtedly highly attractive.

In February of this year, the company acquired a stablecoin infrastructure company for approximately $1.1 billion, further strengthening its strategic position in the stablecoin financial infrastructure sector. Subsequently, at the company's annual meeting in May, it officially launched the "Stablecoin Financial Account" service.

This service has been launched in 101 countries, and businesses can:

• Hold two main USD stablecoins;
• Deposit and withdraw stablecoins through traditional bank transfers in USD and EUR;
• Access and deposit stablecoins on-chain through multiple mainstream Blockchain networks.

This means that businesses can easily access dollar-based stablecoins on the platform and achieve efficient fiat deposit and withdrawal operations through a seamlessly integrated traditional banking system.

In addition, the company acquired a Web3 wallet infrastructure startup in June this year, which provides features such as wallet creation based on email or SSO login, transaction signing, key management, and Gas abstraction. Combining the existing stablecoin infrastructure with wallet technology, launching its own Blockchain mainnet to achieve coordinated development of the system seems to be a natural progression.

The Transformation Brought by Potential Blockchain Networks

If this payment giant really launches a blockchain mainnet, it could bring about the following changes:

Basic Scenario

1. Merchant Stablecoin Account and Blockchain Integration: It is expected to support deposits and withdrawals through its own chain, enhancing operational efficiency and expanding application scenarios.

2. Stablecoin Settlement Options: Merchants may choose to settle sales revenue in USD stablecoins, which is particularly significant for merchants with high demand for USD but limited access.

3. User Wallet Service: It is possible to provide individual users with an easy-to-use wallet that supports payments and other Web3 financial activities.

4. Customer Stablecoin Payment Options: Customers will have the option to pay using stablecoins.

Ideal Scenario

1. Direct Payments Between Customers and Merchants: Supports users to pay merchants directly with stablecoins, which is expected to bypass traditional financial institutions, significantly enhancing settlement speed and reducing costs.

2. Micro-Payment Based Subscription Service: Supports a pay-per-minute billing model, enabling automatic settlement based on actual usage time, bringing a new business model for service providers and consumers.

3. Utilization of Short-Term Deposits in DeFi: Short-term deposits can be used in DeFi protocols, lending markets, or bond investments, thereby enhancing capital efficiency and generating additional returns.

Conclusion

If this payment giant truly launches its own Blockchain mainnet, it could mark an important beginning for the paradigm shift in payment systems. This may not only enable it to take on the functions of both card issuers and card organizations on a technical level, but more importantly, it is expected to leverage Blockchain technology to comprehensively enhance payment efficiency and expand new functionalities that traditional systems find difficult to reach.

Currently, payment systems are on the edge of an innovation wave driven by Blockchain. Whether the rumors are true or not, any blockchain-related actions could have a profound impact on the payment industry's landscape. Whether we will usher in an era where Blockchain reshapes payment infrastructure still requires time to verify.