No, Stripe is not becoming bank

Last week, details emerge on a application what giant finish Strip had filed for a bank’s bank license.

There was a lot of chatting on X on if this meant strip – already the The largest fiction in private In the world – it would be now added the bank to the list of descriptions of what makes.

The short answer is: No.

What is true is that this marks the first time the strip asked for a bank license. But what cannot be clear is that the scope of the license is a little tight. This license does not mean the company company will be accepted deposits. What does this is that approved, strip be allowed to process their own payments to have partners that the process of their process of their process of their process of his / her process

A spoking of Stripe told Techcrunch: “In the past few years, as stylish companies, we have raised the character number you had a job, including the United States, including the united, and that the joint followed in this strategic direction.”

A familiar source with the reasons for the movement of becoming their own bin gives “a little extra resilience to process payments” directly. Currently is Bin sponsors (oi banks of sponsor) vary according to geography.

In 2024, Wells Fargo (an ex of strip strip partner – where the banks to access the counter to the (when the banks do this, lets be in risk for risk for service.

To be able to process their own payments, stripe is less dependent on their companions.

If approved, stripe could have this bank license from the third quarter of 2025.