From Silicon Valley to the World: Slash and Stripe Debut USDSL Stablecoin

Slash, the San Francisco-based neobank has entered the stablecoin arena with the launch of USDSL, a U.S. dollar based stablecoin issued via Stripe’s Bridge infrastructure, arriving amid growing regulatory clarity in Washington.

Slash’s latest innovation arrives with carefully chosen momentum. In the wake of President Trump signing the GENIUS Act, U.S. businesses now have clear parameters around stablecoin issuance and oversight—making Slash’s timing strategic. This launch demonstrates that digital payment systems are evolving rapidly toward mainstream adoption.

Slash executives explain the move: CEO Victor Cardenas shared, “Our ‘Global USD’ account relies on crypto behind the scenes yet focuses on serving businesses—not crypto enthusiasts. The idea was to enable non‑U.S. companies to work in dollars without gas fees or private key complexities.” He added that USDSL is fully backed by both Circle’s USDC and USTB, an on‑chain money market fund collateralized by U.S. Treasuries, and Slash will publish proof‑of‑reserves on their website.

Stablecoins 101: What They Are and Why They Matter

Stablecoins are digital currencies tied to fiat assets, predominantly the U.S. dollar. They maintain stable value, making them powerful tools for payments, treasury operations, and global commerce.

Key benefits include speed, cost efficiency, and transparency, enabling rapid settlement, significantly lower fees, and auditable payment histories. USDSL combines these benefits with a secure 1:1 backing by U.S. Treasuries and USDC.

Slash + Stripe: Bridging Finance and Innovation

Slash’s collaboration with Stripe builds on Stripe’s acquisition of Bridge, delivering a polished experience tailored for business users. Through the Global USD Account, companies can manage U.S. dollar and stablecoin balances within a single interface, easily convert between USDT, USDC, and USDSL, and move funds seamlessly via ACH, wire, or SWIFT transfers. The platform also allows businesses to earn yield on their balances while remaining within regulatory guardrails.

This development began in response to client demand last December, when wholesalers and agencies sought more affordable, faster settlement methods. That initial feature—built to meet their needs—now processes nearly $1 billion in annualized volume, inspiring Slash to significantly expand its stablecoin capabilities.

GENIUS Act: A New Era in Stablecoin Regulation

The GENIUS Act—signed into law in July—provides the first comprehensive U.S. regulatory framework for stablecoins. It defines reserve and transparency standards, oversees issuer eligibility, and assigns supervisory responsibilities to federal agencies.

Passing with wide bipartisan support (308–122 in the House, 68–30 in the Senate), the Act underscores stablecoins’ legitimacy as infrastructure for payments. The market response was swift—major firms like Amazon, Walmart, PayPal, and Stripe are now exploring stablecoin strategies.

Slash’s USDSL is among the first live examples of that new regulatory environment in action.

Global Treasury, Reimagined

Slash’s offering reimagines how businesses handle global treasury. The Global USD Account unifies traditionally fragmented components—on-ramps, stablecoin swaps, liquidity access, and banking rails—into a single integrated system. With features like seamless dollar conversion, built-in yield, transparent collateral backing, and consolidated account tracking, companies can eliminate reconciliation friction and optimize cash flow.

What This Means for Merchants

Slash’s launch provides a concrete demonstration of how policy, infrastructure, and product design are converging. The GENIUS Act offers stability, Stripe provides scale, and Slash delivers usability. Together, they form the foundation for stablecoins as a trusted backbone for global commerce.

We’re proud to partner with Slash to bring this innovation directly to our customers. If you're looking to streamline your international payments and treasury operations with USDSL-backed tools—or if you're curious about integrating stablecoin-powered banking into your systems—reach out to us. We’d be glad to help you get set up or answer any questions about banking solutions built for tomorrow’s global business.

For more perspective, we recently interviewed the team at Slash Banking to discuss their vision, technology, and roadmap. You can watch the full conversation on our YouTube Channel.

References

Sandor, K., & De, N. (2025, August 5). U.S. Neobank Slash Debuts Stablecoin with Stripe’s Bridge for Global Business Payments. CoinDesk. https://www.coindesk.com/business/2025/08/05/u-s-neobank-slash-debuts-stablecoin-with-stripe-s-bridge-for-global-business-paymentsHamilton, J., & De, N. (2025, July 18). Trump Signs GENIUS Act Into Law, Elevating First Major Crypto Effort to Become Policy. CoinDesk. https://www.coindesk.com/policy/2025/07/18/trump-signs-genius-act-into-lawNeobank Slash Debuts Stablecoin via Stripe’s Bridge for Global Payments. AInvest. (2025, August 7). https://www.ainvest.com/news/neobank-slash-debuts-stablecoin-stripe-bridge-global-business-payments-2508Slash: USDSL Stablecoin Overview. Slash Official Website. https://www.slash.com/platform/usdslNeobank Slash Launches Stablecoin for International Transactions via Stripe’s Bridge. VTrader. (2025, August 6). https://www.vtrader.io/news/neobank-slash-launches-stablecoin-for-international-transactions-via-stripes-bridge-on-august-06-2025