Stripe Indicates It Is Prepared to Reintroduce Cryptocurrency Payments After Three Years

Stripe was previously opposed to adopting cryptocurrencies as a payment method in the future, according to co-founder John Collison on CNBC. Previously, the corporation discontinued support for Bitcoin payments in 2018, citing the currency’s high volatility and inefficiency for everyday transactions.

Stripe, a well-known online payment provider, discontinued its Bitcoin payment option about three years ago, citing price volatility and payment processing complexity. Stripe co-founder John Collison discussed the development that cryptocurrencies have made over the last three years in a recent interview, but also emphasized that not every feature of cryptocurrency is useable by a payment firm like them. He did not, however, rule out the prospect of reintroducing a crypto payment option.

Stripe is exploring accepting cryptocurrency payments.
Collison said that although the corporation is not yet prepared to state definitively that it is ready to begin crypto acceptance, it is still a possibility that might materialize in the future.

Previously, the online payment processor with a $94 billion market cap discontinued service for Bitcoin payments after the 2018 market fall. Officially, the asset’s volatility and hefty costs during periods of heavy network traffic were cited as reasons.

Collison also noted that cryptocurrency is “many different things to a lot of different people” today, implying that some persons use it for speculative trading or investment, while others use it for repatriation or everyday payments.

Additionally, the co-founder remarked that digital assets have improved significantly in contrast to the situation of the sector in 2018. Additional coins like as Solana enter a market that is already scalable; conventional currencies such as Ethereum are already using Layer 2 solutions, and so forth.

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