Payments infrastructure FinTech Stripe’s valuation has reportedly reached a record $106.7 billion.
That’s according to a report Tuesday (Sept. 23) by Bloomberg News, citing a person with direct knowledge of the matter. Another person familar with the valuation later confirmed this figure for PYMNTS.
The new valuation tops the $95 billion peak Stripe achieved in 2021. The Bloomberg report, which points out Stripe has long been one of the most valuable private FinTechs, adds that the company was valued $91.5 billion earlier this year.
The report further notes that Stripe, like OpenAI and Anthroptic, has chosen to stay a private company as its valuation jumped, leaving retail investors chagrined.
Stripe declined to comment when reached by PYMNTS. A separate report by Axios also included the $106.7 billion figure, saying that Stripe was in discussions to buy back shares from venture investors.
Beyond its payments business, Stripe has of late been entering the stablecoin space. For example, Stripe last year acquired the stablecoin platform Bridge, with CEO Patrick Collison calling stablecoins “room-temperature superconductors for financial services.”
Collison told a Congressional hearing in March that stablecoins are providing “real utility today,” as business clients are discovering better ways to handle treasury functions and carry out international transfers and “to access U.S. dollars overseas … stablecoins are creating economic opportunities for American businesses at this moment.”
And in May, the company expanded its money management offerings with the debut of Stablecoin Financial Accounts, powered by stablecoins.
As PYMNTS wrote at the time, businesses using these accounts can hold balances in stablecoins, get payments via both crypto and traditional fiat rails like ACH and SEPA, and send stablecoins to most markets around the world.
Earlier this month, Stripe pushed back against J.P. Morgan Chase’s plan to begin charging for access to customer bank data.
The company said in comments submitted to the Consumer Financial Protection Bureau (CFPB) that as the regulator is finalizing its revisions to the open banking rule, Rule 1033, it should make sure that banks do not “unlawfully charge access fees” for connecting consumers’ bank accounts to the financial products of their choosing.
“The largest banks should not be permitted to charge prohibitive fees for data access while the CFPB considers how to address those same fees through the ANPR [Advanced Notice of Proposed Rulemaking] process and while an existing rule prohibits such fees,” Stripe said in its comments. “Therefore, Stripe urges the CFPB to consider all options that would deter such fees until a comprehensive revised rule is in place.”
Source: https://www.pymnts.com/
