In the concluding keynote session titled “The Future of Payments,” John Collison, President of Stripe, underscored the company’s longstanding engagement with cryptocurrency. He referenced Stripe’s past foray into Bitcoin (BTC) support in 2018, which was ultimately halted due to low usage.
Collison conveyed his excitement about the reintroduction, expressing Stripe’s eagerness to resume crypto payments, specifically preferring Circle’s USDC stablecoin for a significantly improved user experience.
The choice to reintroduce crypto payments arises from its growing practicality, as highlighted in Collison’s presentation. He noted the enhancements in transaction speeds and declining costs, rendering crypto a more feasible means of exchange.
The rollout of this feature is expected later this summer, signaling Stripe’s return to the crypto arena after a period of subdued activity. Collison had previously signaled the company’s interest in the potential of crypto, despite some earlier products experiencing low demand.
In May of last year, Stripe launched a fiat-to-crypto onramp, offering customizable embeddable onramps for web3 companies and a user-friendly Stripe-hosted option for added convenience.
Stripe’s decision to reintroduce crypto payments underscores a strategic move to align with the dynamic digital payments landscape. It recognizes the increasing importance of crypto in global transactions and aims to improve user experience and accessibility accordingly.
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