Stripe’s stablecoin strategy has undergone a leadership change after Connor Fitzgerald, the executive who spearheaded the company’s global stablecoin card infrastructure, announced his departure. Fitzgerald joined Stripe following its $1.1 billion acquisition of Bridge and was instrumental in building sponsor bank relationships and partnerships with payment networks to launch stablecoin card programs from scratch.
During his tenure, Stripe achieved the first stablecoin settlement flow in the United States and grew annualized payment volume from zero to tens of millions of dollars. The infrastructure he helped establish now supports stablecoin card issuance across more than 100 markets, a key pillar of Stripe’s expansion into blockchain-based payments.
Bridge, the platform at the center of these efforts, recently secured Markets in Crypto-Assets (MiCA) authorization and an Electronic Money Institution license in Luxembourg. These approvals allow regulated stablecoin services across all 27 EU member states, enabling businesses to issue euro-backed stablecoins, create virtual IBANs, and move funds between subsidiaries using stablecoins instead of traditional correspondent banking networks.
Despite Fitzgerald’s exit, Stripe continues to push forward. Earlier this year, Visa expanded its partnership with Bridge to roll out stablecoin-backed card programs targeting availability in more than 100 countries before the end of 2026. Stripe is also reportedly exploring a potential acquisition of PayPal alongside Advent International, a move that would further integrate digital payment products with its growing stablecoin infrastructure.
Fitzgerald indicated his next venture will remain in blockchain-based financial infrastructure but provided no further details.
