ByCoinGape
Stripe is putting fresh leadership behind its stablecoin card push, with Drew Turchin joining the company to lead its stablecoin card business.
Turchin announced the move on LinkedIn, saying he is joining Henri Stern, Max Segall and the Stripe team to lead the next phase of the company’s stablecoin card business.
Max Segall, Stripe’s COO, also welcomed Turchin. He said that after working with him in his previous two roles, he believed Turchin was the right person to take Stripe’s crypto work to the next level.
The appointment comes as Stripe is betting that stablecoin-backed cards can turn digital dollars into something much closer to everyday money.
“Stablecoin-backed cards are the key unlock,” Segall said in his post announcing Turchin’s appointment.
Turchin’s own announcement offered a similar view. He pointed to stablecoins’ growing role as both a store of value and payments medium, arguing that cards are the next step because they make those balances spendable wherever cards are accepted.
The timing of the appointment is notable. Stablecoin card activity has been climbing sharply this year.
As per the data from CryptoRank and Paymentscan, stablecoin spending through crypto cards reached $642 million in July 2026, taking cumulative spending past $4.5 billion. Monthly volume has increased roughly sevenfold over the past year, while monthly spending has grown 124% in 2026. USDC remains the leading payment asset, although USDT continues to gain share.
That growth gives Turchin a market that is already moving, rather than one that needs to be created from scratch.
Stripe has been building the infrastructure around that market for months. At its 2026 Sessions event, the company said businesses could enable consumer or commercial stablecoin-backed cards in 30 countries, with plans to make issuing available in 60 countries through its Bridge infrastructure.
The model is straightforward. A user holds a stablecoin balance, while the card allows that balance to be spent through conventional payment infrastructure. For fintechs and stablecoin companies, Stripe provides much of the infrastructure needed to make that experience work without having to build the card stack themselves.
Stripe is already pushing the use case beyond crypto-native users. Its stablecoin infrastructure now supports cards that allow customers to spend directly from stablecoin balances. Its broader crypto offering combines payments, card issuing and stablecoin infrastructure through Bridge and Privy.
The company has also been putting the pieces together through partnerships. In June, Deel announced a stablecoin wallet powered by Stripe’s infrastructure that allows contractors in more than 150 countries to hold, earn and spend a dollar-backed balance.
Turchin’s arrival therefore comes at an important point for Stripe’s crypto strategy. The company already has the infrastructure, distribution and card capabilities. What it now needs is to scale the use case.
For Turchin, that means taking stablecoin cards from an emerging product into something people can actually use as part of their everyday financial lives.
And with stablecoin card spending climbing, Stripe appears ready to make that push much more aggressively.
Sneha Agrawal
GUIDE
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