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.
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.