Online payments giant and Cash App owner Stripe is stepping into a new realm of financial services for vendors.
Per a Wall Street Journal exclusive on Thursday, Stripe is looking to offer customers bank accounts and debit cards. However, these financial products will be limited to vendors and merchants for now.
The new initiative will also involve collaboration with banking giants Goldman Sachs and Citi, which is part of a broader push from both to incorporate online business services and new technologies.
In 2015, Stripe was an early payments platform to onboard Bitcoin functionality, which it dropped three years later.
Last year, Stripe made headlines for seeing valuation of $35 billion following a funding round.