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$15 billion-revenue payment provider reintroduces cryptocurrencies
The post $15 billion-revenue payment provider reintroduces cryptocurrencies appeared on BitcoinEthereumNews.com. Stripe, a global payment processing giant with annual revenues exceeding $15 billion, has announced plans to reintegrate cryptocurrency into its payment options. This strategic shift comes six years after the company ceased all cryptocurrency transactions, citing the volatility and inefficiencies of Bitcoin (BTC). Stripe plans to relaunch its crypto payment services later this summer, initially supporting Circle’s USDC stablecoin, signaling a renewed confidence in digital currencies. John Collison, co-founder and president of Stripe, shared the company’s vision for a revitalized approach to crypto payments at the Global Internet Economy Conference. He asserted that transactions would settle instantly on-chain and automatically convert to fiat. “We’re excited to announce that we’re bringing back crypto as a way to accept payments, but this time with a much better experience” Collison stated, highlighting the technological improvements that have reshaped the cryptocurrency landscape. Additionally, Stripe introduced over 50 new features at its annual user conference, Stripe Sessions, held at the Moscone Center in San Francisco. Initially, Stripe will support USDC transactions on the Solana (SOL), Ethereum (ETH), and Polygon (MATIC) networks. Stripe first engaged with the Bitcoin ecosystem in 2014, positioning itself among the early adopters of cryptocurrency payments. However, it exited the crypto space in 2018 when Bitcoin underwent its first major price crash. After leaving the digital asset ecosystem, Stripe attempted a comeback the following year with Facebook’s Libra project. Industry reactions Dan McArdle, co-founder of crypto research firm Messari, commented on Stripe’s decision, expressing his hope that Stripe will “stick with it this time.” He referred to the payment giant’s previous decision to terminate support for Bitcoin payments in 2018. Great. Hope you guys stick with it this time instead of terminating support a few years later like you did with BTC payments a while back. — Dan McArdle (@robustus) April 25,…
The post $15 billion-revenue payment provider reintroduces cryptocurrencies appeared on BitcoinEthereumNews.com.
Stripe, a global payment processing giant with annual revenues exceeding $15 billion, has announced plans to reintegrate cryptocurrency into its payment options. This strategic shift comes six years after the company ceased all cryptocurrency transactions, citing the volatility and inefficiencies of Bitcoin (BTC). Stripe plans to relaunch its crypto payment services later this summer, initially supporting Circle’s USDC stablecoin, signaling a renewed confidence in digital currencies. John Collison, co-founder and president of Stripe, shared the company’s vision for a revitalized approach to crypto payments at the Global Internet Economy Conference. He asserted that transactions would settle instantly on-chain and automatically convert to fiat. “We’re excited to announce that we’re bringing back crypto as a way to accept payments, but this time with a much better experience” Collison stated, highlighting the technological improvements that have reshaped the cryptocurrency landscape. Additionally, Stripe introduced over 50 new features at its annual user conference, Stripe Sessions, held at the Moscone Center in San Francisco. Initially, Stripe will support USDC transactions on the Solana (SOL), Ethereum (ETH), and Polygon (MATIC) networks. Stripe first engaged with the Bitcoin ecosystem in 2014, positioning itself among the early adopters of cryptocurrency payments. However, it exited the crypto space in 2018 when Bitcoin underwent its first major price crash. After leaving the digital asset ecosystem, Stripe attempted a comeback the following year with Facebook’s Libra project. Industry reactions Dan McArdle, co-founder of crypto research firm Messari, commented on Stripe’s decision, expressing his hope that Stripe will “stick with it this time.” He referred to the payment giant’s previous decision to terminate support for Bitcoin payments in 2018. Great. Hope you guys stick with it this time instead of terminating support a few years later like you did with BTC payments a while back. — Dan McArdle (@robustus) April 25,…
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