At the Global Internet Economy conference, Stripe announced its plans to support crypto payments once again. John Collison, Stripe’s president, mentioned the company’s previous involvement with cryptocurrency, specifically with Bitcoin (BTC) support in 2018. However, this support was discontinued due to underutilization.

Collison expressed excitement about reintroducing crypto payments, with a focus on accepting Circle’s USDC stablecoin. The decision to reintegrate crypto payments was driven by the increasing utility of cryptocurrencies, including improvements in transaction speeds and lower costs.

Stripe’s reentry into the crypto sphere is set for later this summer, following a period of relative quiet. Collison had previously shown interest in crypto’s potential despite facing low demand for some products. Last May, Stripe introduced a fiat-to-crypto onramp, offering customizable embeddable onramps for web3 companies and a Stripe-hosted option for user convenience.

The reintroduction of crypto payments by Stripe reflects a strategic move to adapt to the changing landscape of digital payments. This decision recognizes the growing value of cryptocurrencies in global transactions while aiming to enhance user experience and accessibility.

Post Views: 3