- Stripe users will be able to send and receive USDC transactions through Ethereum and Solana.
- The company previously discontinued its Bitcoin service in 2018.
Payment giant Stripe announced on Thursday that it will resume cryptocurrency payments in 2024.
“After nearly a decade, Stripe is returning to accepting cryptocurrencies, scheduled for this summer,” said Jeff Weinstein, Product Lead at Stripe. Said At X.
The company began its foray into cryptocurrencies in 2014, but pulled out in 2018 due to the instability of the Bitcoin network and the blockchain's consistent technology upgrades.
“Bitcoin has evolved to be better suited as an asset than a medium of exchange,” the company said in a 2018 blog post.
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Stripe's new crypto policy prioritizes Circle's stablecoin over Bitcoin.
According to , users will be able to make and receive payments in USDC via the Ethereum or Solana blockchains. company presentation. You will also be able to connect various wallets to your Stripe account, including MetaMask, Phantom, Coinbase Wallet, and Rainbow.
“The transaction settlement is no longer comparable in length to a Christopher Nolan movie,” Stripe co-founder and president John Collison said Thursday. “And the transaction costs can no longer be compared to the budget of a Christopher Nolan movie.”
Stripe prepares for stablecoins
Stripe briefly backed Meta's stablecoin project, Libra, in 2019.
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In 2022, it announced a payment program in collaboration with X (formerly Twitter), allowing creators on the platform to receive revenue in USDC.
The payments company was valued at $50 billion in a $7 billion funding round in 2023. Stripe has recently been mulling the possibility of going public, but said in March there was no need to rush to do so.
Tom Carreras is a markets correspondent for DL News. Do you have any Stripe tips? Contact us tcarreras@dlnews.com
