Stripe will reintroduce crypto payments later this year, initially only for Circle’s USDC stablecoin, on the Solana, Ethereum and Polygon blockchains, according to coindesk.com.
Six years after dropping support for bitcoin and, thus, crypto payments altogether, Stripe is bringing back the service later this summer, though initially only for Circle’s USDC stablecoin.
“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,” Stripe co-founder and President John Collison (photo) said in a keynote address at the company’s Global Internet Economy conference (details below).
The payments processor has a long history in crypto, first tapping the bitcoin ecosystem in 2014. Four years later, in 2018, it discontinued all of those efforts, arguing that bitcoin was too volatile and would function as an asset rather than a medium of exchange. It had also criticized its lengthy transaction times and growing fees at the time.
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