Fintech Giant Stripe Announces Return of USDC Transactions

Stripe, a major player in financial technology, has announced plans to reintroduce support for USD Coin (USDC) transactions, marking a significant return to the realm of cryptocurrency commerce.

The decision, revealed on Thursday, entails the integration of stablecoin payments into Stripe’s checkout suite, with implementation scheduled in the forthcoming weeks.

Crypto is back. @Stripe will start supporting global stablecoin payments this summer. Transactions instantly settle on-chain and automatically convert to fiat. Join the waitlist https://t.co/hws2OsU3Id and watch the demo (h/t @Solana) from Sessions. pic.twitter.com/zGKYW2FM6i

— John Collison (@collision) April 25, 2024

This move allows for seamless conversion of cryptocurrency transactions into fiat currency, streamlining the payment process.

In a video demonstration shared on X, John Collison, cofounder of Stripe, expressed excitement about the development, stating, “Stripe will begin facilitating global stablecoin payments this summer. Transactions will be settled on-chain and automatically converted to fiat.”

Stripe aims to empower its users by enabling them to accept stablecoin payments, thus expanding their global reach and providing customers with convenient and reliable transaction options, even for those without traditional bank accounts or credit cards.

This strategic shift towards integrating cryptocurrencies into its services marks a notable departure from Stripe’s previous stance.

In 2018, the company discontinued bitcoin payments on its platform, citing concerns over bitcoin’s volatility and its suitability as an asset rather than a medium of exchange.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.