TL; DR
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BIG NEWS! Stripe brings back crypto payments!
If you’ve ever bought anything something on the Internet, there’s a good chance that you’ve used Stripe’s services without even knowing it.
They are the company, that other companies use to power their payment processing.
(With over $1 trillion (with a T) in transactions completed in 2023 alone).
The forward-thinking founders, the Collison brothers, are no strangers to crypto. Coinbase previously allowed merchants to receive payments in BTC until they ended that offering in 2018 due to Bitcoin’s volatility.
But a lot has changed in crypto since then. The number of stablecoin transactions has grown exponentially and hey, Solana didn’t even exist in 2018!
This time around, Stripe is taking a more measured approach: integrating with USDC (the US-pegged stablecoin) on the Solana, Ethereum, and Polygon networks.
John Collison said it best in his keynote address yesterday at Stripe’s Global Internet Economy conference: “As transaction speeds increase and costs decrease, we see crypto finally making sense as a medium of exchange.”
Crypto takes even a small portion of that $1T per year in transactions?
We’ll take it!