Stripe may launch an L1 Blockchain network, which could reshape the payment industry

Recently, the crypto community has been buzzing about a certain payment giant's intention to launch its own L1 Blockchain network. After acquiring related companies, the launch of a dedicated chain may be its next step in laying out its presence in the Blockchain field. As a global leading payment service provider, the company plays a technical bridging role between merchants, acquirers, card networks, and issuing banks, ensuring transactions are efficient and secure.

If the L1 mainnet is really launched, in a basic scenario it may support stablecoin payments with deep integration for customer payments and merchant settlements; whereas in an ideal scenario, it could completely reshape the payment system, including:

1. Bypass direct payments with card organizations and banks;

2. Micro-payment subscription model that traditional systems cannot achieve;

3. Earn income by holding a balance in short-term deposits.

Currently, the company mainly operates as a payment gateway and acquirer. If it launches its own L1 network, it is expected to replace some roles of traditional issuing banks and card organizations, which may become a historic turning point in the payment industry.

Will the company really launch the L1 mainnet?

Rumors about the launch of an L1 Blockchain have been raised by several observers in the crypto space. Although there has been no official confirmation yet, multiple sources have mentioned this matter. Similar to a trading platform launching a stock tokenization feature based on a certain L2 network, this company could be the next large fintech enterprise to enter the market.

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

In February 2025, 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 meeting in May, it officially launched the "Stablecoin Financial Account" service.

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

• Hold certain stablecoins;
• Deposit and withdraw stablecoins via ACH/wire transfer for USD and via SEPA for EUR;
• On-chain deposit and withdrawal of stablecoins through multiple mainstream public blockchains.

This means that businesses can easily access dollar-backed 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 2025, which offers 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 system synergy seems to be a natural progression.

What changes will the launch of the L1 mainnet bring?

Although the launch of the L1 mainnet is still a rumor, if it comes true, it may enable a range of financial services that were previously unattainable. Below are several conceptual directions based on existing business and potential expansions.

The company has existing capabilities as a PSP.

To understand how the company can improve its services through Blockchain, it is necessary to first understand the role it currently plays. As one of the most well-known payment service providers, the company acts as a technical bridge between merchants, acquirers, card organizations, and issuing banks, ensuring a smooth and secure payment process. The main services include:

• Payment Gateway
• Supports multiple payment methods
• Fraud Detection and Security Assurance
• Multi-currency and international payment support
• Reporting and Analysis Tools
• Technical Integration and Operational Support
• Customer Experience Optimization
• Merchant Settlement Intermediary

Before the birth of PSP, merchants had to integrate multiple payment methods on their own and sign contracts with acquirers one by one, which greatly affected operations and user experience.

The transformation that L1 networks may bring

If an L1 Blockchain network is launched, it may bring about the following changes:

Basic Scenario

1. Merchant Stablecoin Account Integration with L1 Network

The company currently offers stablecoin account services in 101 countries, allowing merchants to hold stablecoins and deposit or withdraw through traditional banking systems or on-chain networks. If an L1 network is launched, it is expected to further support deposits and withdrawals through its own chain, enhancing operational efficiency and expanding application scenarios.

2. Stablecoin Settlement Options

As a payment service provider, it often collaborates with acquirers or assumes settlement functions independently. If an L1 network is introduced, 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 Services

The company is acquiring infrastructure that enables users to create wallets. Although the current focus is on the merchant side, if combined with the L1 network and related services, it could potentially offer individual users a simple and user-friendly wallet that supports payments and other Web3 financial activities.

4. Customer Stablecoin Payment Options

Currently, the company mainly supports traditional payment methods such as credit cards and bank accounts. If Web3 wallets (provided by the company or third parties) are supported, customers will be able to choose to make payments using stablecoins.

Ideal Scenario

1. Direct payment between customers and merchants

Payments made via credit card or bank account rely on traditional financial networks. If an L1 network supports users to pay merchants directly with stablecoins, it is expected to bypass issuing banks and card organizations, significantly improving settlement speed and reducing costs. However, it is important to note that the cancellation or refund mechanism for on-chain payments is relatively complex and requires the introduction of a sound protection mechanism.

2. Subscription Services Based on Micropayments

Blockchain has the capability for micropayments and streaming subscriptions. Currently, subscriptions are mostly billed on a monthly or yearly basis, but L1 networks can support a per-minute billing model, enabling automatic settlement based on actual usage time, bringing a new business model to service providers and consumers.

3. DeFi Utilization of Short-term Deposits

The current payment system has a long settlement cycle, partly due to the need to address issues such as fraud, cancellations, and refunds. Even if customers are allowed to pay merchants directly with stablecoins, some funds may still need to temporarily reside in the L1 network.

These short-term deposits will form a large liquidity pool that can be used for DeFi protocols, lending markets, or bond investments, thereby enhancing capital efficiency and generating additional returns.

Conclusion

After long-term attention to the stablecoin industry and observing the related ecosystem, it is not difficult to find that the rumors about launching an L1 mainnet are indeed quite noteworthy. So far, many payment giants have only treated Blockchain and stablecoins as additional features of traditional business. If the company truly releases its own L1 mainnet, it could potentially mark an important beginning for the paradigm shift in payment systems.

In the past, the company's main role was as a payment gateway or acquirer, but once the L1 Blockchain is built, it may technically assume the functions of both the issuer and the card organization. More importantly, the L1 network has the potential to leverage Blockchain technology to significantly enhance payment efficiency and expand new features that traditional systems find difficult to reach, such as micro-payment based streaming subscriptions and automated management of short-term idle funds.

Currently, the payment system is on the brink of a blockchain-driven wave of innovation. Regardless of whether the rumors are true, any blockchain-related actions by the company could have a profound impact on the landscape of the payment industry. Whether we will usher in an era where blockchain reshapes payment infrastructure remains to be seen.