US Neobank Slash Debuts Stablecoin with Stripe's Bridge for Global Business Payments

Slash, a San Francisco-based neobank for businesses, has launched a payments and treasury platform powered by a new US dollar stablecoin, USDSL. The Global USD Account aims to simplify cross-border payments and reduce foreign exchange fees for businesses without a US bank account. The stablecoin is issued by Stripe's Bridge and allows users to store, send, and receive dollars or stablecoins in one account. Slash's first stablecoin feature, launched in December, has already processed nearly $1 billion annualized volume.

San Francisco-based neobank Slash has introduced the Global USD Account, a payments and treasury platform powered by a new US dollar stablecoin, USDSL. This innovative product aims to simplify cross-border payments and reduce foreign exchange fees for businesses that do not have a US bank account [1].

The Global USD Account is built on Stripe's Bridge, which issues the USDSL stablecoin. This stablecoin is backed 1:1 by treasury bills and USDC, providing users with a secure and reliable way to store, send, and receive dollars or stablecoins in one account [3]. The platform supports various payment methods, including USDC, USDT, wires, and ACHs, allowing for seamless banking operations and stablecoin payments with just a few clicks.

Slash's foray into stablecoins began in December, with a feature that enabled customers to send and receive USDC and USDT payments without holding the tokens. This feature has already processed nearly $1 billion annualized volume, inspiring the company to expand its stablecoin offerings [2]. The new Global USD Account targets crypto companies seeking to consolidate their treasury management, offering features such as stablecoin conversion, balance management, and off-ramping to US bank accounts through ACH, wire, or SWIFT transfers. Additionally, users can earn yield on their balances without triggering securities rules [2].

The stablecoin market has grown significantly, reaching a $250 billion valuation, and interest in the sector has accelerated following the signing of the GENIUS Act by U.S. President Donald Trump. This act sets new federal standards for stablecoin issuers, fostering a more regulated and secure environment [1]. Global banks, retailers like Amazon and Walmart, and payments firms like PayPal and Stripe are exploring stablecoin products, indicating the sector's potential for growth and innovation [1].

Slash's Series B funding round, led by Goodwater Capital, valued the company at $370 million in May 2025. Future plans include the launch of a card for businesses to spend their stablecoin balances and potentially a wallet for holding other crypto assets [2].

References:
[1] https://finance.yahoo.com/news/u-neobank-slash-debuts-stablecoin-180000388.html
[2] https://www.coindesk.com/business/2025/08/05/u-s-neobank-slash-debuts-stablecoin-with-stripe-s-bridge-for-global-business-payments
[3] https://www.slash.com/products/global-usd