Stripe Reintroduces Crypto Payments: Focus on USDC and Stablecoins

Stripe Returns to Cryptocurrency: Supports USDC on Multiple Blockchains

29 April 2024

Stripe is making a significant comeback in the crypto space, introducing USDC payments on Solana, Ethereum, and Polygon blockchains.

Stripe is re-embracing cryptocurrency payments after a six-year hiatus. The company announced its plan to allow merchants to accept payments in USDC stablecoins, initially supporting blockchains such as Solana, Ethereum, and Polygon. This strategic move marks Stripe’s significant return to crypto transactions since abandoning Bitcoin in 2018 due to its volatility.

In 2022, Stripe stepped back into the crypto market, facilitating payouts in USDC but stopped short of allowing crypto payments. The recent expansion, unveiled by co-founder John Collison, signals a more robust integration of cryptocurrency into its payment systems. Collison humorously noted improvements in transaction efficiency and cost, comparing them favorably to the length and budget of Christopher Nolan films.

“Stripe is bringing back crypto payments—this time with stablecoins, which are a way better experience,” Collison said.

The announcement also highlighted Stripe’s broader strategy to diversify its offerings. The most noteworthy development is allowing customers to integrate competing payment providers within Stripe’s suite of financial services.

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Elena Petrova
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Elena Petrova, born in Moscow, Russia, is a distinguished financial economist with a PhD from Moscow State University. Elena's impactful career includes roles as the Chief Economist at the Russian Financial Times and a Contributing Analyst at Crypto Insights Today. Her diverse interests include international finance, art history, hiking, and Russian literature.
Omar Khan
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Born in Dubai, UAE, Omar Ali Khan is a financial consultant with a Master's in International Business from the London Business School. Omar's career includes roles as a Financial Consultant at Dubai Investments Group and a Lead Analyst at Middle East Finance Digest. His interests include Islamic finance, desert photography, traditional Arabic music, and equestrian sports.
Aisha Patel
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Aisha Fatima Patel, born in Mumbai, India, is a seasoned financial correspondent with a Master's in Financial Journalism from Northwestern University. Aisha's impactful career spans roles as a Senior Financial Correspondent at the Mumbai Financial Times and a Lead Analyst at Global Crypto Insights. Her interests include emerging markets, impact investing, yoga, and Indian classical dance.

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