Stripe finally revives 'cryptocurrency payments' for the first time in six years



John Collison, co-founder and president of Stripe, an online payment platform, announced in a keynote speech at the event ' Stripe Sessions 2024 ' held on April 25, 2024 that Stripe will revive cryptocurrency payments. This is the first time Stripe has accepted cryptocurrency payments in six years since it stopped supporting Bitcoin in April 2018.



Stripe Brings Back Cryptocurrency Payments Via Circle's USDC Stablecoin
https://www.coindesk.com/business/2024/04/25/stripe-brings-back-crypto-payments-via-usdc-stablecoin/

After 6-year hiatus, Stripe to start taking crypto payments, starting with USDC stablecoin | TechCrunch
https://techcrunch.com/2024/04/25/after-6-year-hiatus-stripe-to-start-taking-crypto-payments-starting-with-usdc-stablecoin/

Stripe first announced support for Bitcoin as a payment method in 2014, but stopped supporting Bitcoin in April 2018. Stripe stated that the reason for the suspension was that 'Bitcoin has become a speculative commodity and its price fluctuations have become large, which has significantly increased the fees and time costs involved in transactions.'

Later, in 2022, it was reported that Stripe was recruiting cryptocurrency-related engineers, and there were rumors that it might resume accepting Bitcoin payments.

Will Stripe, a major payment service provider, resume support for cryptocurrency payments?



In March 2022, Stripe announced that it now supports cryptocurrency businesses such as cryptocurrency exchanges, wallet providers, and NFT marketplaces. However, this only means that Stripe's API now supports cryptocurrency asset management and payments at cryptocurrency exchanges, but it does not mean that payments can be made in cryptocurrency.

Stripe, a major payment service provider, begins supporting cryptocurrency exchanges, wallets, NFT marketplaces, etc. - GIGAZINE



According to Stripe, support for cryptocurrency payments is scheduled to start in the second half of 2024, and initially only Circle 's stablecoin , 'USD Coin,' will be supported. After that, it will support three other cryptocurrencies: Ethereum , Solana , and Polygon , but at the time of writing, Bitcoin is not included in the plans.

'Cryptocurrencies are finding their true utility. With faster transactions and lower costs, cryptocurrencies are finally making sense as a means of payment,' Collison said in his keynote speech. You can watch the full keynote speech by Collison below.

Stripe Sessions 2024—The future of payments - YouTube


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