Stripe re-enters the cryptocurrency market with USDC support, offering businesses instant settlements on Ethereum, Solana, and Polygon
Author: Chirag Sharma
In a major development for the payments industry, Stripe has officially announced its return to cryptocurrency, now supporting USD Coin (USDC) for transactions. This move marks Stripe’s first foray back into crypto since discontinuing Bitcoin payments in 2018, citing issues with volatility and efficiency at the time. With a 1.5% transaction fee and limits set at $10,000 per transaction, Stripe USDC support aims to provide practical crypto payment options for everyday commerce.
The decision to support USDC, a stablecoin pegged to the US dollar, reflects Stripe’s strategy to integrate more stable and reliable digital currencies. This enables businesses in over 150 countries to accept USDC for payments. It also helps in reducing the volatility concerns typically associated with cryptocurrencies.
Stripe’s re-entry into crypto signifies a broader trend towards mainstream adoption of digital currencies. John Collison, Stripe’s co-founder, highlighted that USDC offers a “much better experience” than earlier Bitcoin payment options, pointing to faster and more secure transactions.
This could influence other payment processors to explore similar crypto integrations, further normalizing cryptocurrency use in digital payments. As Stripe continues to embrace blockchain, its support for USDC could serve as a key indicator of the growing role of stablecoins.
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