Thursday, Stripe announced a new step in its openness to cryptocurrencies. Indeed, the payment solutions giant will allow merchants to accept USDC stablecoin payments as early as this summer.
Stripe expands its cryptocurrency payment solutions
Over the years, payment solutions giant Stripe has become increasingly open to cryptocurrencies, although this has remained fairly marginal until now. Starting this summer, the company will be taking the next step, allowing its users to accept payments in USDC.
Through a post on X, John Collison, one of the company’s co-founders, effectively announced that the crypto was “back” :
Crypto is back. Stripe will begin supporting stable global payments this summer. Transactions are settled instantly on-chain and automatically converted to fiat.
The company shared a demonstration video made during a keynote, illustrating the product’s user experience:
Crypto is back. @Stripe will start supporting global stablecoin payments this summer. Transactions instantly settle on-chain and automatically convert to fiat. Join the waitlist https://t.co/hws2OsU3Id and watch the demo (h/t @Solana) from Sessions. pic.twitter.com/zGKYW2FM6i
– John Collison (@collision) April 25, 2024
In reality, it’s essentially a wallet connection integration. As you can see from the images above, the interface allows you to connect your wallet, as is already the case with all Web3 applications, to initiate the transaction.
Where this new feature stands out is that the service can then directly convert the cryptocurrencies received into fiat currencies, and this integrates alongside Stripe’s other payment options. So, in its own way, this will help to democratize cryptocurrency payments a little further, as some payment cards and similar solutions already do.
