Stripe Returns to Crypto Six Years Later
Payment service Stripe is returning to the crypto industry six years later, starting by supporting stablecoins on various networks.
After a six-year hiatus, payment system Stripe has once again allowed its customers to make cryptocurrency transactions. The company is starting to support USDC on the Solana, Ethereum, and Polygon blockchains. Users will also be able to connect various wallets such as MetaMask, Phantom, Coinbase Wallet, and Rainbow to their Stripe accounts.
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 co-founder and president announced Stripe's return to the cryptocurrency sphere at the Connect developer conference held in San Francisco, emphasizing the increased convenience of working with stablecoins.
The decision to return to the crypto industry is part of Stripe's larger plans to expand its services and provide customers with more options and flexibility.
Stripe's journey in the cryptocurrency world began in 2014, when the payment system began testing Bitcoin transactions. However, in 2018, the company decided to stop supporting Bitcoin due to its volatility and unsuitability as a form of exchange. In 2019, Stripe co-founded the Libra crypto project.
