Online Payments Firm Stripe Is Rethinking a Return to Crypto

San Francisco, US-based online payments firm Stripe says it is not “impossible” to start accepting cryptocurrency as a payment method in the future. Previously, the company started accepting bitcoin payments, but discontinued the practice in 2018. Currently, when the total crypto market cap is around $3 trillion (approximately Rs 2,22,79,296 crore), it should come as no surprise that Stripe is open to entering the space again. For now, Stripe co-founder John Collison is keeping the doors of the cryptocurrency open.

“There’s been a lot of development of late with an eye to the making” cryptocurrency Better as a method of payment and, in particular, measurable and acceptable cost,” CNBC Cited Callison is saying.

The company recently established a team dedicated to researching the crypto space, as well as to explore the “Web 3” concept – which refers to the decentralized future of the Internet as we know it.

Earlier in November, the company enlisted Matt Huang, co-founder of crypto-focused venture capital firm Paradigm, to join its board of directors.

However, the confrontation expressed its reservations around the crypto space. The use of cryptocurrencies as a “speculative investment” is something that is “not relevant” to Stripe’s work.

Stripe, which was founded in 2009, has emerged as the largest privately owned fintech company in the US with a market valuation of $95 billion (approximately Rs 7,07,598 crore).

Meanwhile, the crypto market globally has grown significantly.

whereas El Salvador With bitcoin legalized as legal tender in September, places like New York City and the city of Miami have adopted their own origins. city ​​coins Based on crypto technology.

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