Stripe returns to cryptocurrency, now accepts stablecoin payments

Ending a six-year break, Stripe has announced its re-entry into the cryptocurrency sphere, now enabling merchants to accept stablecoins as payment for online transactions.

The decision comes after Stripe ceased support for Bitcoin in 2018 due to volatility and high fees, which impacted its viability as a payment method. Revealed at the company's Global Internet Economy conference, Stripe's president, John Collison, highlighted the improved transaction experience this time around.

Starting this summer, merchants will have the capability to process payments through Circle's USDC stablecoin across Solana, Ethereum, and Polygon blockchains. Collison pointed out that with faster transaction speeds and lower costs, cryptocurrency is beginning to demonstrate practical utility as a means of exchange.

Source: Finextra