Stripe’s advantage is the breadth of its payments infrastructure and the ease with which developers can build it into a business. The report argues that billing, tax, fraud prevention, and other services make the relationship harder to replace, while online commerce and stablecoins offer further room to grow.
Fintech / COMPANY PROFILE
Stripe
The payments infrastructure behind online commerce—and the next bet on stablecoins.

Figures as of Jul 9, 2026. Estimates and projections are labelled separately.
- Valuation cited
- $159 billion
- 2025 payment volume
- $1.9 trillion
- IPO outlook
- No near-term urgency
Private-market valuation discussed in the report
Source for Valuation cited ↗Payment volume is not Stripe’s revenue
Source for 2025 payment volume ↗Management’s position as described in the July report
Source for IPO outlook ↗