Online Payments Company Stripe Reconsidering Return to Crypto

US-based online payments company in San Francisco, Stripe says that it is not “implausible” to start the acceptance of crypto digital money as the payment method. Before some time, this company had started to take Bitcoin payments but they discontinued this practice in the year 2018. Currently, the cryptocurrency market cap is on a whopping $3 trillion that is roughly the amount of Rs. 2,22,79,296 crore. It is not a surprise that the company Stripe is now open to entering into that space again. At this time, co-founder of Stripe John Collison kept the doors open for crypto money as payment.

“There have been a lot of developments of late with an eye to making cryptocurrencies better and, in particular, scalable, and acceptable cost as a payment method,” said Collison.

The company Stripe recently has established a dedicated team to research and explore crypto space and the “web3” concept. “web3” refers to the decentralized future of the Internet.

In November, the online payments company Stripe is roped by Matt Huang who is the co-founder of Paradigm, a crypto venture capital firm and wants to join the board of directors.

However, Collision expressed his reservations regarding the crypto space. The use of crypto money as the “speculative investment” is like that it is “not that relevant to” Stripe’s work.

About The Stripe

Stripe is an online payments company that was founded in the year 2009. This company has emerged as the largest privately-held fintech company situated in the US, with a market valuation of $95 billion in US dollars and Rs. 7,07,598 crore in Indian rupees. 

Meanwhile, currently, the crypto market is significantly growing on the global level.