Payment Processor Stripe To Kick Off USDC Payments This Summer, More Than Six Years After Ditching Bitcoin

On Apr 26, 2024

Payment processing firm Stripe plans to roll out global USDC payments this summer, more than six years after the company ended Bitcoin (BTC) support.

John Collison, Stripe’s president and co-founder, announced the upcoming payments feature on Thursday.

At a presentation, Collison demonstrated how customers could link crypto wallets to Stripe and make instant payments with USDC on Solana (SOL) and Ethereum (ETH). Businesses using the payments firm will also be able to add a stablecoin option for paying customers.

The company previously supported Bitcoin payment options but discontinued that feature in April 2018, citing the top crypto asset’s lack of utility in payments.

In 2022, Stripe launched a wide suite of tools and services for cryptocurrency-focused businesses.

Explained Collison at the time,

“Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT [non-fungible token] marketplaces.

Not just pay-ins but payouts, KYC [know your customer] and identity verification, fraud prevention, and lots more.”

Later that year, Stripe rolled out an embeddable fiat-to-crypto onramp for Web3 developers, and in early 2023, the payments giant started offering a hosted onramp available at crypto.link.com.

USDC aims to maintain a 1:1 peg to the US dollar and is the second-largest stablecoin by market cap, after USDT.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/feofra/Sensvector

Credit: Source link