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Fintech Company Stripe Allows Crypto Payments Via USDC Stablecoin

Yolowire - Fri Apr 26, 9:12AM CDT

%Stripe, the privately held financial technology firm based in Dublin, Ireland, says it will allow its customers to make %Crypto payments via the USDC %Stablecoin.

The move comes six years after Stripe dropped support for %Bitcoin (CRYPTO: $BTC) and all crypto payments.

The European payments processor has a long history with cryptocurrencies, first enabling Bitcoin payments back in 2014.

However, in 2018, Stripe discontinued all of its crypto processes, saying that Bitcoin was too volatile and would function more as an asset rather than a medium of exchange.

Back in 2018, the sector was enduring its first of many “crypto winters” with prices dropping sharply and trading in digital assets extremely volatile.

More recently, Stripe introduced a project to facilitate fiat-to-crypto payments in 2022.

Now, Stripe says it feels more confident facilitating digital payments again as it sees cryptocurrencies finding utility.

Going forward, Stripe will allow payments on the %Solana (CRYPTO: $SOL), %Ethereum (CTRPYO: $ETH) and %Polygon (CRYPTO: $MATIC) blockchains via the USDC stablecoin, the company said in a statement.

While it remains privately held, Stripe is currently valued at $65 billion U.S. and is one of the largest payments providers in the world with over $1 trillion U.S. in transactions during 2023.

Paid Post: Content produced by Yolowire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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