Payments Giant Stripe Adds Crypto Again Starting With USDC, TechCrunch Reports

Fintech behemoth Stripe is going to allow customers to pay and receive cryptocurrency, starting with the stablecoin USDC.

According to TechCrunch, the company will begin by offering USDC solely on Solana, Ethereum, and Polygon.

Stripe co-founder and President John Collison is due to announce the news at the company’s Connect developer conference taking place this week in San Francisco, reported TechCrunch.

“Transaction settlements are no longer comparable with Christopher Nolan films for length,” Collison said earlier Thursday, as quoted by the news outlet. “And transaction costs are no longer comparable with Christopher Nolan films for budget. Stripe is bringing back crypto payments — this time with stablecoins, which are a way better experience.”

Stripe did not immediately reply to a request for comment from The Defiant.

USDC is the second-largest stablecoin in the crypto industry. After bleeding out following its $55 billion June 2022 peak, it plummeted to a floor of $23 billion in November 2023, and has since taken off, reaching a $33 billion market cap, according to CoinGecko.

This wouldn’t be Stripe’s first foray into the cryptocurrency market. In April 2022, the firm introduced a feature allowing businesses to pay users in crypto using the Polygon network.

Stripe added Bitcoin in early 2014 but pulled the token’s support in 2018 citing concerns over its volatility.