Stripe has submitted its first application for a U.S. banking license, sparking speculation about the fintech giant's expansion into banking. However, the license, if approved by Q3 2025, will not allow Stripe to accept deposits but will enable it to process its own payments. This move aims to enhance Stripe's resilience against service disruptions from partner banks, particularly following the exit of Wells Fargo from BIN sponsorship. A Stripe spokesperson emphasized the strategic need for broader banking options to support users amid its growing business.