Stripe Hires Crypto Veteran Drew Turchin to Lead Stablecoin Card Push

Stripe has appointed Drew Turchin to lead its stablecoin card business as spending reaches $642 million. The move comes as stablecoin-backed cards gain traction, with cumulative spending now at $4.5 billion.

Turchin's appointment is a significant development for Stripe's crypto strategy. The company already has the infrastructure and distribution in place, but it needs to scale the use case of stablecoin cards as everyday financial tools.

Stablecoin card activity has surged this year, with monthly volume increasing sevenfold over the past 12 months. USDC remains the leading payment asset, although USDT is gaining share.

Stripe's infrastructure enables businesses to issue consumer or commercial stablecoin-backed cards in 30 countries, with plans to expand to 60 countries through its Bridge platform.