Bitcoin
Stripe Retires Crypto Support after 4 Years –
Payment giant Stripe has brought back crypto support after it stopped processing bitcoin payments four years ago. The company now says, “Our optimism for the future of crypto was not unfounded … Crypto is going mainstream.”
Stripe Reintroduces Crypto Support
Payment giant Stripe is re-entering the crypto space after four long years with the launch a suite products to help crypto businesses.
Stripe is a payment infrastructure company headquartered in San Francisco and Dublin, with 14 global offices. According to its website, millions of companies in over 120 countries use Stripe to start, run, and scale their businesses, including Amazon, Google, Shopify, Microsoft, Spotify, Uber, and Nasdaq.
John Collison, co-founder of
Stripe, announced via Twitter that his company now supports cryptocurrency businesses, including on-ramps and wallets.
Stripe is one of the first companies to embrace Bitcoin. “In 2014, we became the first major payments company to support Bitcoin payments,” the company explained on its website. However, Stripe stopped processing Bitcoin transactions in April 2018 citing block size issues, which the company said led to “bitcoin becoming less useful for payments.”
Four years after Stripe stopped accepting bitcoin payments, the company stated in a blog post that it had learned that its optimism about the future of cryptocurrency was not unfounded.
From new developments in blockchain infrastructure to widespread interest from major financial institutions, crypto is going mainstream.
“To support our customers better and grow the internet’s GDP, we are working with Blockchain.com and FTX to allow crypto businesses to have access to the global financial infrastructure. We also partnered with Blockchain.com and FTX to increase consumer access to cryptocurrency,” Stripe added.
What do you think about Stripe bringing back crypto support after four years? Comment below.
Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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