Stripe to Introduce Support for USD Coin Transactions This Summer
Fintech giant Stripe has announced plans to reintegrate into the realm of cryptocurrency-based commerce by supporting transactions in USD Coin (USDC) starting this summer.
On Thursday, Stripe revealed that stablecoin payments will soon be integrated into its checkout suite, with the rollout expected to occur in the coming weeks.
Crypto is back. @Stripe will start supporting global stablecoin payments this summer. Transactions instantly settle on-chain and automatically convert to fiat. Join the waitlist https://t.co/hws2OsU3Id and watch the demo (h/t @Solana) from Sessions. pic.twitter.com/zGKYW2FM6i
— John Collison (@collision) April 25, 2024
The company emphasized that crypto transactions will “immediately” settle to fiat currency.
after nearly ten years, accepting crypto is back on @stripe, coming this summer. (this time it really works, via stablecoins)
— Jeff Weinstein (@jeff_weinstein) April 25, 2024
Stripe expressed enthusiasm for the move, highlighting its aim to empower users to accept stablecoin payments, thereby expanding their global reach and providing customers with easy, fast, and trustworthy transactions, irrespective of whether they possess a bank account or credit card.
The decision marks Stripe’s reentry into the cryptocurrency sphere after several years. In 2018, the company phased out bitcoin payments from its platform, citing the token’s volatile price fluctuations. At the time, Stripe reasoned that bitcoin was better suited as “an asset [rather] than… a means of exchange.”
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