Will Stripe Launch Its Own L1 Blockchain Network? Analyzing the Payment Giant's Blockchain Layout

Recently, there has been widespread rumor in the crypto space that a well-known payment service provider intends to launch its own L1 Blockchain network. After acquiring relevant infrastructure companies, launching a dedicated chain may be the next step in its blockchain strategy. As a global leader in payment services, the company acts as a technological bridge between merchants, acquirers, card networks, and issuing banks, ensuring that transactions are efficient and secure.

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

1. Bypass direct payments with card organizations and banks;

2. Micropayment subscription model that traditional systems cannot achieve;

3. Generate returns by holding a short-term deposit balance on the new L1.

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 could become a historic turning point in the payment industry.

Will the L1 mainnet really be launched?

Rumors about the launch of an L1 Blockchain have been raised by several observers in the crypto space. Although there has not been any official confirmation yet, multiple sources have mentioned this matter. Similar to a major fintech company launching stock tokenization features based on Arbitrum, this payment giant may be the next large fintech company to enter the scene.

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 conference in May, it officially launched the "Stablecoin Financial Account" service.

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

• Hold USDC and USDB;
• Deposit and withdraw stablecoins via ACH/wire transfer for USD and via SEPA for EUR;
• Access and deposit USDC on-chain through multiple mainstream Blockchains.

This means that businesses can easily access USD-based stablecoins on the platform and achieve efficient fiat currency 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 via 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 system development 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 speculative, if it becomes a reality, it could empower a range of financial services that were previously unattainable. Below are several conceptual directions based on existing business and potential expansions.

as the existing features of PSP

To understand which services the company can improve through Blockchain, one must first understand the role it currently plays. As one of the most well-known payment service providers, the company acts as a technological 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 the new L1 may bring

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

Basic Scenario

1. Merchant Stablecoin Account Integration with New L1

The company currently offers stablecoin account services in 101 countries, allowing merchants to hold USDC and USDB, and deposit or withdraw through traditional banking systems or on-chain networks. If a new L1 is launched, it is expected to further support deposits and withdrawals via 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 a new L1 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 Service

By acquiring the existing infrastructure to create wallets for users. Although the current focus is on the merchant side, if combined with the new L1 and related services, it may provide individual users with an easy-to-use 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 itself or third parties) are supported, customers will be able to choose to pay with stablecoins.

Ideal Scenario

1. Direct payment between customers and merchants

Payments made through credit cards or bank accounts rely on traditional financial networks. If the new L1 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 should be noted that the on-chain payment cancellation or refund mechanism is relatively complex, and a comprehensive safeguard mechanism needs to be introduced.

2. Subscription Services Based on Micropayments

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

3. The DeFi Utilization of Short-term Deposits

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

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

Final Thoughts

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, mainstream payment giants have only regarded blockchain and stablecoins as additional features of their traditional businesses. If the company truly launches its own L1 mainnet, it could 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 simultaneously take on the functions of both issuers and card organizations at a technical level. More importantly, the new L1 has the potential to leverage Blockchain technology to comprehensively enhance payment efficiency and expand new functionalities that traditional systems find difficult to reach, such as micro-payment-based streaming subscriptions and automated management of short-term idle funds.

Currently, payment systems are on the brink of a blockchain-driven wave of innovation. Whether the rumors are true or not, any blockchain-related actions by the company could have a profound impact on the landscape of the payment industry. It remains to be seen whether we will usher in an era where blockchain reshapes payment infrastructure.