Connor Fitzgerald, who directed stablecoin partnerships at Bridge following its acquisition by Stripe, has left the company. His departure comes as Stripe continues to advance its regulated stablecoin payment services in more than 100 markets worldwide.
Leadership change at Bridge after Stripe acquisition
Stripe, the US-based payments technology company, acquired Bridge to strengthen its blockchain and digital asset capabilities. Fitzgerald joined Stripe just weeks after the deal closed, quickly taking charge of global stablecoin card program development. His mandate included building strategic alliances with sponsor banks and collaborating closely with key card processing networks to enable worldwide distribution.
Reflecting on his tenure via social media, Fitzgerald described his experience launching the stablecoin card program from the early stages, noting the challenges and foundational work required to secure vital banking partnerships.
Fitzgerald highlighted that he joined a month after the acquisition, when the company had yet to develop a stablecoin card program with a sponsor bank, and worked to build a global stablecoin payment framework from the ground up.
Through these efforts, Stripe’s platform established robust operational systems before introducing international stablecoin services. This groundwork enabled the company to deploy stablecoin-powered cards in over 100 countries and provided the infrastructure required for scalable growth.
Regulatory compliance and international expansion
Stripe has focused on securing regulatory licenses for its stablecoin operations, driving global expansion of its payment products. Recently, Bridge secured approval as a Markets in Crypto-Assets (MiCA) compliant entity and received an Electronic Money Institution (EMI) license in Luxembourg. These authorizations give Stripe full access to the European Union’s 27 member states, allowing the launch of euro-based stablecoins and issuance of virtual IBANs under one regulatory framework.
This development enables Stripe to extend euro cross-border banking solutions to fintech and commercial partners, streamlining global capital transfers through stablecoin infrastructure. As a result, businesses can leverage stablecoins for seamless transactions across international subsidiaries, reducing reliance on traditional correspondent banking systems.
Mini dictionary: Markets in Crypto-Assets (MiCA) is a comprehensive regulatory framework established by the European Union to supervise the issuance, offering, and trading of crypto assets, including stablecoins, across EU member states.
Stripe reported steady annualized growth in stablecoin transaction volumes, rising from zero to tens of millions of dollars since the launch of its US settlement system. The company’s ability to secure new partnerships with financial institutions and processors has contributed to the wide availability of stablecoin-backed products for global users.
| Region | Regulatory Approval | Market Coverage |
|---|---|---|
| European Union | MiCA & EMI License (Luxembourg) | 27 Countries |
| Global | Various local clearances | 100+ Markets |
Continued stablecoin expansion and new partnerships
Despite Fitzgerald’s exit, Stripe remains focused on growing its stablecoin ecosystem. Visa, a global payments provider, recently expanded its collaboration with Bridge, aiming to launch stablecoin-linked payment cards in more than 100 territories by the end of 2026. This initiative targets broader adoption of blockchain-enabled financial products worldwide.
Fitzgerald stated that he will continue to pursue projects centered on blockchain-powered finance, although he has not disclosed his next role or employer. He emphasized that working with digital currency platforms has influenced his views on the future of banking and payments.
Stripe continues to seek wider opportunities in digital payments. Earlier reports indicated ongoing discussions with Advent International regarding a possible acquisition of PayPal, another major fintech company. If completed, the deal is expected to bring together PayPal’s digital payment technology and Stripe’s stablecoin infrastructure.
