Stripe Brings Back Crypto Support After 4 Years – Stripe, the payment giant, has re-entered the crypto world after a four-year with the launch of a suite of crypto-related businesses.
Stripe is a payment infrastructure firm with 14 global offices based in San Francisco and Dublin. Stripe is used by millions of organizations in over 120 countries to establish, run, and scale their businesses, including Google, Amazon, Spotify, Shopify, Microsoft, Uber, and Nasdaq, according to the company’s website.
Stripe co-founder John Collison said Thursday on Twitter that his company now supports crypto businesses including exchanges, wallets, on-ramps, and non-fungible token (NFT) marketplaces.
Stripe was one of the first leading companies to accept bitcoin as a payment method. “We were the first big payments company to support Bitcoin payments in 2014” – according to the company’s website. Stripe, on the other hand, discontinued processing Bitcoin transactions in April 2018, citing block size difficulties as a reason for “bitcoin becoming less suitable for payments,” according to the company.
“We’ve learned that our enthusiasm for the future of crypto was not unfounded,” Stripe wrote in a blog post four years after it ceased accepting bitcoin payments.
The company went on to say:
Crypto is becoming more widespread, thanks to significant breakthroughs in blockchain infrastructure and increasing interest from big financial institutions.
“To better serve our clients and continue to expand the internet’s GDP, we’re working to give crypto firms access to today’s global financial infrastructure, beginning with our partnership with FTX and Blockchain.com to broaden consumer access to crypto,” Stripe added.