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Stablecoins are finding product-market fit in emerging markets | TechCrunch

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Five years ago, SpaceX launched Starlink, which has since grown into its biggest revenue driver, expanding to more than 100 countries. But as Starlink scaled, it faced a major hurdle: accepting payments in developing markets, where traditional banking infrastructure is unreliable, slow, and prone to blocking transactions. Many local banks across Africa, Latin America, and Asia struggle with international payments, forcing SpaceX to look for alternatives. To bypass these challenges, SpaceX turned to stablecoins, a fast-growing method for cross-border payments already widely used in emerging markets. The company partnered with Bridge, a stablecoin payments platform, to accept payments in various currencies and instantly convert them into stablecoins for its global treasury. This move positioned Bridge as a viable alternative to correspondent banks in markets where traditional financial systems fall short. Soon after, Stripe took notice, acquiring the startup for more than $1 billion and

Stablecoins are finding product-market fit in emerging markets | TechCrunch Image Credits: Jakub Porzycki / NurPhoto / Getty Images Crypto Stablecoins are finding product-market fit in emerging markets Tage Kene-Okafor 11:31 AM PST · January 31, 2025 Five years ago, SpaceX launched Starlink, which has since grown into its biggest revenue driver, expanding to more than 100 countries. But as Starlink scaled, it faced a major hurdle: accepting payments in developing markets, where traditional banking infrastructure is unreliable, slow, and prone to blocking transactions. Many local banks across A

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