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Stripe, the fintech giant, continues to make a gradual return to the cryptocurrency market

Stripe, the fintech giant, continues to make a gradual return to the cryptocurrency market

After a 6-year hiatus, Stripe is returning to cryptocurrencies, allowing merchants to accept stablecoins for online payments. Transactions will be instantly processed on-chain and automatically converted to fiat.

Source:https://techcrunch.com/2024/04/25/after-6-year-hiatus-stripe-to-start-taking-crypto-payments-starting-with-usdc-stablecoin/?guccounter=1

In 2014, Stripe added Bitcoin support to its offerings. But already in 2018, the company abandoned cryptocurrencies, saying that crazy price fluctuations and higher commissions made them unsuitable for use as a form of payment.

“We’re excited to announce that we’re bringing back cryptocurrency as a way to accept payments, but this time with a much better experience,” said company President John Collison.

Merchants will be able to accept payments in stablecoins as early as summer 2024, although this will initially be limited to USDC Circle on the Solana, Ethereum, and Polygon blockchains.

“Cryptocurrencies are finding real use. Now that transaction speeds are increasing and costs are decreasing, we’re seeing cryptocurrency finally make sense as a medium of exchange,” Collinson added.

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