Wednesday marked a pivotal moment for global payment giant Stripe as it fulfilled its April promise to resume cryptocurrency support—six years after discontinuing Bitcoin payments on its platform.
Stripe’s USDC Integration Expands Global Payment Options
Jeff Weinstein, Stripe’s Product Lead, announced via Twitter (X) that the San Francisco-based company launched a new payment method enabling businesses to accept USD Coin (USDC) from customers in 150+ countries.
👉 Discover how Stripe’s crypto integration boosts e-commerce
Key Developments:
- 70+ countries adopted USDC for online transactions within the first 24 hours of relaunch.
- US merchants gained access to USDC payments via Stripe’s checkout pages starting October 9.
- Stripe was among the first to enable Bitcoin payments in 2014 but discontinued the feature in 2018 due to slow processing times.
Why Stablecoins? Stripe’s Strategic Shift
Stripe’s Product Lead Jay Shah emphasized that stablecoins like USDC help merchants accept borderless payments while expanding local payment method support.
"We fundamentally serve what internet businesses need—accessing more customers at lower costs. Stablecoins, though nascent, show promise in achieving this."
— Jeff Weinstein, Stripe Product Lead
Industry Trends:
- Visa recently unveiled a platform for banks to issue fiat-backed tokens, including stablecoins.
- Fintech firms like Robinhood and Revolut are exploring stablecoin offerings.
- Stripe now supports 100+ payment methods, with plans for further expansion.
The Road Ahead for Crypto Payments
April’s relaunch decision, as noted by co-founder John Collison, was driven by advancements in crypto technology. Stripe’s move signals growing confidence in blockchain’s scalability for mainstream commerce.
👉 Explore the future of crypto payments
FAQ Section
Q: Which cryptocurrencies does Stripe currently support?
A: Stripe now accepts USD Coin (USDC) for payments, with potential expansions based on market demand.
Q: How does USDC benefit international merchants?
A: USDC transactions reduce cross-border fees and processing times compared to traditional methods.
Q: Will Stripe reintroduce Bitcoin payments?
A: No official plans yet, but the company continues to monitor crypto advancements for future integrations.
Disclaimer: This content reflects the author’s perspective and is for informational purposes only. It does not constitute financial advice.
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