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Stripe is reintroducing crypto payments by enabling USD Coin (USDC) transactions, six years after stopping support for bitcoin (btc) and other digital currencies.
“We are excited to announce that we are bringing back cryptocurrency as a way to accept payments, but this time with a much better experience,” company co-founder and president John Collison said during an April 25 conference. opening speech. “Cryptocurrencies are finding real utility.” 
crypto begins to prove useful
With reduced transaction times and lower transaction fees, Collison says “cryptocurrencies are finally making sense as a medium of exchange.”
Users will be able to execute payments with USDC in either of the two solarium (SOL), ethereum (eth) or Polygon (MATIC).
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”7.6086956521739″>
Cryptocurrencies are back. twitter.com/stripe?ref_src=twsrc%5Etfw”>@Stripe will begin supporting global payments with stablecoins this summer. Transactions are settled instantly on-chain and automatically converted to fiat. Join the waiting list https://t.co/hws2OsU3Id and watch the demo (h/t twitter.com/solana?ref_src=twsrc%5Etfw”>@solarium) of Sessions. pic.twitter.com/zGKYW2FM6i
– John Collison (@collision) twitter.com/collision/status/1783559623511011535?ref_src=twsrc%5Etfw”>April 25, 2024
The announcement had little impact on the prices of each blockchain's native cryptocurrencies.
MATIC alone managed to print a gain of over 2% to trade at $0.7193 at 4:00 am EST, according to CoinMarketCap data. Leading altcoin eth posted a smaller loss over the same period, while Solana fell more than 1%.
Stripe has a long history in the crypto space
Stripe's long history in the crypto space began in 2014, when the payment processor began exploring integration with the bitcoin ecosystem. He later suspended his support for the leading cryptocurrency in 2018, arguing that btc was too volatile.
Stripe He also highlighted rising fees on the bitcoin network and criticized its transaction times. This came amid the first “crypto winter,” when the price of btc plummeted from a high of $19,650 in December 2017 to $3,401 in late 2018.
In an effort to re-enter the market, Stripe took a step forward the following year by becoming a co-founder of facebook. libra project. Shortly after, the fintech giant abandoned the project, which failed to gain the necessary momentum.
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