Stripe will soon return cryptocurrency payments

Stripe revealed its plans to integrate crypto payments, announced during the Global Internet Economy conference.

John Collison, president of the company, pointed out their previous commitment to cryptocurrencies, including a now-defunct initiative to support the Bitcoin in 2018. However, considering the evolving landscape, Collison announced the reintroduction of crypto payments with an improved user experience.

Attributing the decision to the expanding utility of cryptocurrencies, Collison highlighted their resurgence, citing increased transaction speeds and reduced costs as contributing factors. He revealed that the feature will be rolled out later this summer, marking the company's return to the crypto sphere after a year without significant cryptocurrency-related announcements.

While expressing optimism about the potential of cryptocurrencies, Collison clarified that Stripe will not focus its entire strategy on the crypto space, although it remains interested in its future role. In particular, in May of the previous year, Stripe introduced a transition from fiat to cryptocurrency, serving both Web3 companies looking for custom branding and those who prefer a simplified user experience through Stripe's hosted option.