🔥 Stripe Reenables Crypto Payments in the US After the 2018 Halt
posted 10 Oct 2024
Financial services company Stripe has reenabled crypto payments after halting them in 2018. The announcement came from Jeff Weinstein, Product Lead at Stripe, via his post on X (formerly Twitter).
This update allows U.S. businesses to accept stablecoins from 150 countries, and buyers to pay in USDC via Ethereum, Solana, and Polygon blockchains.
Stripe had first hinted at the return of crypto payments in April, initially planning for a summer release. However, the actual launch came in October, with Weinstein joking that the timing followed San Francisco’s "summer" – a reference to the city’s famously warm fall months.
Originally, Stripe became a pioneer in the crypto space by supporting Bitcoin in 2014. But four years later, they halted these services due to long transaction confirmation times, high fees, and price volatility.
Now, with advancements in blockchain technology, Stripe reintroduces crypto payments, offering a new level of flexibility to businesses and consumers alike. Other payment companies supporting crypto include PayPal, Coinbase Commerce, and others.
Stripe had first hinted at the return of crypto payments in April, initially planning for a summer release. However, the actual launch came in October, with Weinstein joking that the timing followed San Francisco’s "summer" – a reference to the city’s famously warm fall months.
Originally, Stripe became a pioneer in the crypto space by supporting Bitcoin in 2014. But four years later, they halted these services due to long transaction confirmation times, high fees, and price volatility.
Now, with advancements in blockchain technology, Stripe reintroduces crypto payments, offering a new level of flexibility to businesses and consumers alike. Other payment companies supporting crypto include PayPal, Coinbase Commerce, and others.
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