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Stripe lets merchants accept stablecoins

Stripe lets merchants accept stablecoins

After a six year hiatus, Stripe is returning to crypto, allowing merchants to accept stablecoins for online payments.

After switching on support for bitcoin in 2014, Stripe ditched crypto, saying that crazy price fluctuations and higher fees rendered it as unusable as a form of payment.

Speaking at the company's Global Internet Economy conference, president John Collison revealed: "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."

Merchants will be able to accept stablecoin payments from this summer, although initially this will be restricted to Circle's USDC on the Solana, Ethereum and Polygon blockchains.

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

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