Stripe to Reinstate Cryptocurrency Payments by Summer

Stripe, a leading payment platform, has revealed plans to reintroduce cryptocurrency transactions in the coming months. This move, announced at its Global Internet Economy conference, marks the company's renewed commitment to digital currency since suspending Bitcoin transactions in 2018.

The company's president, John Collison, mentioned in his "Future of Payments" keynote that Stripe has long been involved with cryptocurrency. However, due to minimal usage, previous ventures like Bitcoin support had to be halted. Collison shared his excitement about offering crypto payments again, emphasizing improved user experiences this time. The comeback is driven by cryptocurrency's enhanced practicality in daily transactions, thanks to faster processing times and lower fees.

This service is slated to launch by summer's end, renewing Stripe's engagement with the crypto world after a year of no major announcements. Although last year, as Collison indicated to Axios, their initial crypto products saw limited demand, Stripe never lost sight of crypto's potential future significance.

Previously, in May, Stripe launched a new fiat-to-crypto feature aimed at Web3 companies. This allowed brand customization and a smoother experience for new users, showcasing Stripe's ongoing interest in expanding crypto utility.