Stripe, a San Francisco-based online payments company, thinks it is not “impossible” that bitcoin would be used as a payment option in the future. The firm had previously accepted Bitcoin payments but had stopped doing so in 2018. Stripe is interested to returning to the crypto field now that the global market valuation is approaching $3 trillion (approximately Rs. 2,22,79,296 crore). Stripe co-founder John Collision has maintained the doors to crypto open for the time being.
Collision was reported by CNBC as stating, “There have been a lot of improvements recently with an aim to making cryptocurrencies better and, in particular, scalable, and acceptable cost as a payment mechanism.”
The corporation has recently formed a team devoted to crypto research and the exploration of the “web3” idea, which alludes to the decentralized future of the Internet as we know it. Matt Huang, co-founder of crypto-focused venture capital firm Paradigm, joined the company’s board of directors earlier this month.
Collision, on the other hand, has expressed doubts about the crypto industry. The usage of cryptocurrencies as a “speculative investment” is “not all that relevant” to Stripe’s operations.
Stripe, which was formed in 2009 and has a market capitalization of $95 billion, has risen to become the largest privately-held fintech firm in the United States (roughly Rs. 7,07,598 crore).
In the meanwhile, the global crypto market has risen tremendously.