Connor Fitzgerald, who led the development of Stripe’s worldwide stablecoin payment card program, has left his position at Bridge, a blockchain payment technology firm acquired by Stripe for approximately $1.1 billion. Fitzgerald’s departure comes as Stripe continues to accelerate its stablecoin payment solutions across more than 100 international markets.
Executive departure during rapid stablecoin growth
Fitzgerald joined the Bridge team just one month after Stripe finalized its acquisition, immediately taking charge of expanding the company’s stablecoin card program. His key priorities included establishing partnerships with sponsor banks and building alliances with major payment networks, efforts deemed essential for enabling global card issuance and distribution.
Fitzgerald stated that his tenure began at a formative stage for the initiative, with “no one” having yet built a fully regulated stablecoin card product supported by sponsor banks. He emphasized that building a compliant foundation early on was necessary for future global operations.
Fitzgerald explained: “I joined one month after the acquisition closed, when no one had built a stablecoin card program with a true sponsor bank, and helped build the global card program from zero.”
Under his oversight, the company launched America’s first stablecoin settlement program. This new infrastructure enabled annualized transaction volumes to rise from zero to tens of millions of dollars, while expanding the network of payment processors and banking partners facilitating stablecoin-powered card issuance.
Mini dictionary: Bridge, a blockchain payments company, was acquired by Stripe to improve their infrastructure for distributed ledger-based transactions and to expand stablecoin payment services internationally.
Regulatory expansion and European Union approval
Bridge recently secured Markets in Crypto-Assets (MiCA) compliance and an Electronic Money Institution (EMI) license in Luxembourg. These regulatory permissions allow the platform to operate across all 27 European Union countries, giving commercial clients the capability to issue euro-denominated stablecoins and access virtual IBAN accounts under a unified legal framework.
The new authorizations are set to help companies streamline cross-border euro banking and international transfers. By utilizing stablecoins instead of traditional correspondent banking, corporate customers will be able to transfer funds between subsidiaries more efficiently, strengthening payment capabilities throughout Europe.
| Country/Region | Stablecoin Services Status | Regulatory Status |
|---|---|---|
| United States | Live, first stablecoin settlement launched | Launched under US compliance |
| European Union (27 countries) | Available | MiCA & EMI license obtained |
| Other global markets | Expansion ongoing (100+ markets) | Regulated as required |
Ongoing growth and Visa partnership
Stripe has continued to roll out new stablecoin products and expand compliant payment solutions in multiple jurisdictions, even after Fitzgerald’s departure. Notably, its collaboration with Visa aims to launch stablecoin-backed payment cards across more than 100 countries by the end of 2026, further targeting the global payments market.
Fitzgerald mentioned that his experience at Stripe reinforced his belief in digital assets’ role in shaping the future of banking, although he did not disclose details about his next project.
Meanwhile, Stripe is reportedly pursuing wider expansion initiatives beyond Bridge, including discussions about a potential acquisition of PayPal, which could integrate PayPal’s digital payment products with Stripe’s emerging stablecoin capabilities. Negotiations on the deal are ongoing.
The company’s sustained investment in distributed ledger-based payments, combined with new regulatory footholds in Europe, maintains Stripe’s position at the forefront of international stablecoin adoption.
