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“During the Global Internet Economy conference on Thursday, Stripe announced its plans to reintroduce support for cryptocurrency payments. At the ‘The Future of Payments’ keynote, Stripe’s President, John Collison, revisited the company’s initial foray into cryptocurrency, referencing their short-lived support for Bitcoin (BTC) in 2018, which was phased out due to low adoption.
With renewed vigor, Collison shared Stripe’s enthusiasm for reintegrating cryptocurrency into their payment system, with a focused implementation on Circle’s USDC stablecoin, aiming to offer a significantly enhanced user experience.
The decision to bring back cryptocurrency payments is influenced by the recent advancements in blockchain technology, which Collison noted for their faster transaction speeds and reduced costs, making cryptocurrencies a more practical option for everyday transactions.
Stripe is set to roll out this feature later this summer, signaling a robust return to the cryptocurrency scene after a period of evaluating their strategic approach. This reintroduction comes on the heels of last May’s launch of a fiat-to-crypto onramp that caters to web3 companies with customizable solutions and a Stripe-hosted option for heightened user convenience.
This move marks a pivotal shift for Stripe as it aligns itself with the dynamic evolution of digital payments, recognizing the increasing relevance of cryptocurrencies in global commerce and focusing on improving accessibility and the overall payment experience.”
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