TL; DR
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Stripe (the #2 online payments company) is once again enabling crypto payments, this time focusing on stablecoin payments via SOL, ETH and MATIC.
Full story
We covered this news on Friday, but started this past weekend with some numbers in our heads and we’ve officially added this to our ‘Web2 x Web3 snowball’ thesis.
(First we go through the thesis and then discuss the figures).
To summarize, for those in the back: when checking the health of the crypto market we look for:
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An increase in the total market value
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Positive inflow of external investments from venture capital
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Big name partnerships are being established between Web2 and Web3 companies
One and two have been comfortably achieved, and now three is starting to prove itself!
First it was Adidas that partnered with Stepn’ to release digital/physical collectibles and gear (consumer-oriented), then it was TikTok that launched a blockchain-powered cloud infrastructure and AI service (enterprise-oriented).
…now we have the biggest Web2 x Web3 partnership announcement of the year, which will span both consumer and business sectors:
Stripe is once again enabling crypto payments, this time focusing on stablecoin payments via Solana, Ethereum and Polygon.
And if you’re not familiar with Stripe, that’s fine…
You probably still use their services.
Stripe is the second largest online payment provider in the world, with a 37.65% market share.
That means 37.65% of global e-commerce (expected to be a $6.3 billion industry by the end of the year) will now be able to take place on-chain, with faster settlement times and lower costs than their traditional financial counterparts.
Nature (Web3) is healing 🥲