Stripe Plans to Reintroduce Crypto Payments in Coming Months

At the Global Internet Economy conference hosted by Stripe, the global payments company revealed its intention to reintroduce cryptocurrency payments in the near future.

During the conference's final keynote titled "The Future of Payments," Stripe's president, John Collison, stated, "Our history with crypto goes back a long time." He referenced the company's previous support for bitcoin, which was discontinued in 2018 due to lack of usage.

"We're excited to announce that we're bringing back crypto as a way to accept payments, but this time with a much better experience," Collison declared.

With the resurgence of cryptocurrency and its expanding use cases, Stripe has decided to reinstate crypto payments. Collison highlighted that "crypto's back," emphasizing its increasing utility.

"Crypto is finding real utility," Collison remarked. "With transaction speeds increasing and costs coming down, we're seeing crypto finally making sense as a means of exchange."

The reintroduction of crypto payments will be available later this summer, according to Collison.

While Stripe hadn't made any significant crypto-related announcements since last year, Collison emphasized the company's ongoing interest in crypto's potential role in the future. Despite previous challenges, including low demand for early crypto products, Stripe remains committed to exploring the possibilities of cryptocurrency.

In a recent development, Stripe introduced a fiat-to-crypto onramp last May. This feature offers flexibility for Web3 companies to customize branding and customer experience, providing users with an easier way to enter the crypto space.