Cryptocurrency

Stripe Opens Opportunity for Bitcoin Integration

Stripe Opens Opportunity for Bitcoin Integration

  • Stripe co-founder John Collison has confirmed that the company may restore support for cryptocurrency in the future
  • The latest update comes after the payment company stopped accepting bitcoin for payment due to volatility and inefficiency
  • When asked about the possibility of crypto support, Collison said: “We don’t yet but I think it’s not implausible that we would.”

Stripe has failed to rule out the possibility of accepting cryptocurrency for payment in the future.

This is coming 3 years after the online payments company ended support for Bitcoin citing volatility and its lack of efficiency for daily transactions.

The company’s co-founder John Collison opened a window of opportunity to reconsideration while speaking at the Fintech Abu Dhabi festival on Tuesday.

He said:

“There have been a lot of developments of late with an eye to making cryptocurrencies better and, in particular, scalable and acceptable cost as a payment method.”

John Collison

When asked if Stripe will reconsider cryptocurrency payment, he said:

“We don’t yet, but I think it’s not implausible that we would.”

The company recently disclosed that it had formed a team dedicated to the exploration of cryptocurrency and “Web3”.

Collison added that several innovations emerging from the cryptocurrency world have potential, such as Solana.

Read also: Elon Musk Attacks Binance and CEO For Dogecoin Glitch

Stripe which was founded in 2009 is the largest privately-owned fintech company in the United States.

Stripe

Valued at $95 billion, the company processes payment for platforms like Google, Amazon, and Uber and has also into other areas of finance.

Follow Naija.fm on our social media handles FacebookInstagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.

Show More

Related Articles

Back to top button