Stripe returns to crypto payments

In 2018, Stripe abandoned crypto transactions due to the volatility of Bitcoin (BTC). Six years later, the platform decided to resume operations with digital assets.

Stripe returns to crypto payments

In 2022, Stripe attempted to enter the crypto market. It was then assumed that the FTX and FTX US exchanges would process the purchase of cryptocurrencies and bank transfers. But they went bankrupt in November 2022.

The latest news, reported by site co-founder John Collison, indicates a more active integration of cryptocurrency into Stripe payment systems. A representative of the site humorously compared the return of crypto-payments to the films of the famous director Christopher Nolan.

Along with the return of crypto payments, Stripe revealed long list other innovations that await the service. The most noticeable was the opportunity to integrate competing payment systems into the site’s package of financial services.

Last May, Stripe launched a service for converting fiat currency into cryptocurrency, developed with the participation of the Brave browser, the Safe platform, the 1inch aggregator, and the Lens Protocol. With the help of the product, the platform intends to simplify access to digital assets for Web3 companies and US clients.

In addition, in December 2022, a widget for exchanging fiat currencies for cryptocurrency for blockchain developers appeared on the Stripe platform. Thanks to this service, they can embed a JavaScript widget into decentralized exchanges (DEX), non-fungible token (NFT) marketplaces, and other decentralized applications (dApps).