Stripe Brings Back Crypto Payments Via USDC Stablecoin
Stripe, a major payments processor, is reintroducing support for cryptocurrency payments, six years after discontinuing the service due to concerns about Bitcoin's volatility, transaction times, and fees. Initially, the service will only support Circle's USDC stablecoin. The reintroduction of crypto payments was announced by Stripe co-founder and President John Collison at the company's Global Internet Economy conference. He noted that transaction speeds have increased and costs have decreased, making cryptocurrency a viable means of exchange. Payments will be available on the Solana, Ethereum, and Polygon blockchains. Stripe, valued at $65 billion, is one of the world's largest payments providers, with over $1 trillion in transactions in 2023.
