In a remarkable turn of events, Stripe has announced that it will be adding support for transactions in USD Coin this summer, marking its resurgence in the realm of crypto-based commerce.
The integration of stablecoin payments into Stripe’s checkout suite is expected within the next few weeks, with the company assuring that crypto transactions will quickly settle to fiat currency.
Stripe’s cofounder, John Collison, shared a video demonstration on social media and heralded the return of cryptocurrencies as a payment option for the company, stating, “Crypto is back.”
He also revealed that transactions will settle instantly on the blockchain and automatically convert to fiat currency.
The company expressed its enthusiasm for empowering its users to accept stablecoin payments, emphasizing the potential for expansion in their global reach and providing their customers with reliable, speedy, and secure transactions, regardless of their access to traditional banking services.
This move by Stripe to incorporate crypto into its suite of services is a significant shift from a few years ago when the company phased out bitcoin payments on its platform.
