Stripe, a US-based online payment company based in San Francisco, says it would be “unbelievable” to accept cryptocurrency as a payment method in the future. Earlier, the company started accepting bitcoin payments, but in 2018 stopped the practice. At present, the total crypto market cap is about $ 3 trillion (approximately Rs. 2,22,79,296 crore), which is not surprising. The strip is open to re-enter space. For now, Strip co-founder John Collison has opened the doors to crypto.
“There have been a lot of late developments aimed at optimizing cryptocurrencies and, in particular, transforming measurable and acceptable costs into a payment system,” CNBC Collison was quoted as saying.
The company recently set up a team dedicated to researching the crypto space and the concept of “web3” – which represents the future of the Internet’s decentralization.
Earlier in November, the company teamed up with Matt Huang, co-founder of crypto-focused venture capital firm Paradigm to join its board of directors.
However, the clash revealed its bookings around the crypto space. The use of cryptocurrencies as “speculative investment” is “not very relevant” to the operation of the strip.
Founded in 2009, Stripe has emerged as a US-based fintech with a market value of $ 95 billion (approximately Rs 7,07,598 crore).
Meanwhile, the crypto market has grown significantly globally.
With El Salvador legalizing bitcoin as a legal tender in September, places like New York City and Miami City have adopted their own city currencies based on crypto technology.