US neobank Slash partners with Stripe's Bridge to launch stablecoin for global commercial payments

PANews reported on August 6th that, according to CoinDesk, San Francisco-based corporate neobank Slash launched a payment and fund management platform on Tuesday, powered by a new USD stablecoin issued by Stripe's Bridge. The company announced that this product, called "Global USD Account," is aimed at companies that don't need a US bank account but want to use US dollars and make cross-border payments. It introduces Slash's own stablecoin, USDSL, allowing users to store, send, and receive US dollars or stablecoins in the same account. Slash stated that this setup is designed to shorten settlement times for cross-border payments to US suppliers and eliminate foreign exchange fees.