Stripe, a popular online payment company that terminated the Bitcoin payment option nearly three years ago citing price volatility and complexities in executing payments. Stripe co-founder John Collison in a recent interview talked about the progress that cryptocurrencies have made over the past three years and also explained that not every aspect of the crypto is usable for a payment company like them. However, he didn’t rule out the possibility of adding a crypto payment option again.
He said it’s not implausible that they would start accepting cryptocurrencies again.
“There have been a lot of developments of late with an eye to making cryptocurrencies better and, in particular, scalable and acceptable cost as a payment method. We don’t yet, but I think it’s not implausible that we would.”
Collison also revealed that the company’s new crypto team is headed by the head of engineering Guillaume Poncin and they have also on-boarded Matt Huang, co-founder of crypto-focused venture capital firm Paradigm, to its board of directors.
Stripe Co-Founder Praises Altcoins
During his interview, while discussing Stripe’s reopening of crypto payment options, Collison praised new and upcoming crypto tokens that could make way for easy and hassle-free transfer of money. The Stripe co-founder seemed especially impressed with Solana ($SOL) which has made it to the top-5 this bull season.
As cryptocurrencies become mainstream, their use as a form of payment is also on the rise. Payment processing giants be it Paypal, Venmo, and even VISA offer crypto spending options. All these payment giants have finally warmed up to crypto after showing initial reservations. Stripe as a payment company has realized that at some point they would have to integrate crypto and they are open to it.