Stripe to Resume Crypto Payments, Starting with USDC Stablecoin on Numerous Blockchains
Fintech giant Stripe has announced its decision to once again allow customers to accept cryptocurrency payments after a six-year break.
The company is starting with USDC stablecoins on the Solana, Ethereum, and Polygon blockchains, according to a report from TechCrunch .
The news of Stripe’s reentry into crypto payments was unveiled by the company’s co-founder and president, John Collison , at the Connect developer conference held in San Francisco .
Collison emphasized the improved stability and user experience that stablecoins offer.
“S tripe is bringing back crypto payments—this time with stablecoins, which are a way better experience .”
The latest announcement is part of Stripe’s broader strategy to expand its services and open up its platform to integrate with competing payment providers.
The move aims to break down the company’s walled garden approach and provide customers with more flexibility and options.
Crypto is back. @Stripe will start supporting global stablecoin payments this summer. Transactions instantly settle on-chain and automatically convert to fiat. Join the waitlist https://t.co/hws2OsU3Id and watch the demo (h/t @Solana) from Sessions. pic.twitter.com/zGKYW2FM6i
— John Collison (@collision) April 25, 2024
Stripe’s history with cryptocurrency has been a delicate dance, balancing its disruptive fintech roots with the need for stability.
The company has always sought to be at the forefront of discussions surrounding blockchain-based technologies and their impact on financial services.
However, it has also been cautious not to compromise its position as a reliable and responsible financial powerhouse.
Stripe processed a staggering $1 trillion in transactions last year and
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