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Payments processor Stripe is back in the crypto game after announcing today that it will soon allow merchants to accept payments in American dollars (USDC) A stable coin.
Starting this summer, the San Francisco-based company will allow companies that use the technology to adopt it American dollars (USDC) for online payments. USDC is the second largest stablecoin in the crypto space and the sixth largest cryptocurrency by market cap.
“We're excited to enable Stripe users to accept Ststigcoin payments and expand their global reach and help customers find easy, fast and trusted transactions even if they don't have a bank account or credit card.” John Egan, head of crypto at Stripe, said in a press release.
Stripe will initially support USDC transactions A spokesperson for Ethereum, Solana and Polygon Networks confirmed the decryption, adding that “the final and comprehensive list will be announced closer to launch.”
Back in 2014, Stripe it becomes One of the first major companies to receive it Bitcoin Payments. Its crypto initiative fizzled in 2018, however, when the company shut down the option, citing rising costs on the world's largest blockchain.
Even if the service is terminated, the company he said. At the time, he was still “very optimistic about cryptocurrencies in general.”
In the year In March 2022, Stripe returned to the crypto space, providing its payment platform for NFT purchases and other Web3 companies. Last year, the company was rumored to work with Twitter on payment features.
Today, Stripe said it will allow merchants to accept USDC and settle transactions on-chain. Payments made in the stablecoin are automatically converted to fiat and transferred to the merchant's Stripe account, the company said.
Stablecoins are a type of cryptocurrency whose value is tied to another asset, such as dollars or gold. They are designed to be less volatile than Bitcoin or other digital assets, which go up and down in value.
These coins and tokens are used by crypto traders to quickly enter and exit without converting directly to fiat currencies such as US dollars.
Edited by Ryan Ozawa.
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