Back to cryptos? Payment processor Stripe, which dropped its Bitcoin (BTC) services in 2018, is getting back into the business. The company is recruiting a dedicated team, it should allow many merchants to start accepting cryptocurrencies.
Stripe is hiring in the cryptocurrency space
Stripe’s interest in cryptocurrencies was first seen in recruitment ads posted on LinkedIn. There, we learn that the payment processor has faced growing demand from developers and users to be able to accept cryptocurrency payments and exchange them for fiat more easily.
As a result, the company wants to “build faster, more reliable and higher quality crypto experiences.” What this means is that Stripe certainly plans to offer cryptocurrency payment acceptance to its users, as it did between 2014 and 2018.
As a reminder, Stripe had been one of the pioneers in the industry, as the company had opened up to Bitcoin back in 2014. But it had stopped offering payment services in BTC, as it considered the network too slow, and the fees too high.
Bringing cryptocurrencies to merchants
Stripe’s cryptocurrency-focused team will be led by Frenchman Guillaume Poncin, formerly head of engineering for Stripe’s financial and banking products.
This time around, Stripe seems to want to focus on a range of cryptocurrencies, rather than focusing on a single project. In 2014, it had shown a strong preference for the Stellar Foundation (XLM), which it had accompanied. Then she had devoted herself to Bitcoin (BTC) and more recently to Facebook’s cryptocurrency project… Before jumping ship.
In any case, this is a big news. Online merchants should eventually have a way to accept cryptocurrencies that will be based on the architecture of Stripe, one of the most important companies in the industry. This will further promote the democratization of this type of payment…