Stripe
October 13, 2024
Stripe Unicorn News - October 13, 2024
Stripe has reintroduced cryptocurrency payment options, now supporting USD Coin (USDC) transactions for businesses in over 150 countries. This strategic move comes after a six-year hiatus, with enhanced features including automatic conversion to fiat currency.
() Introduction
() Stripe Reintroduces Crypto Payments with USDC Support After Six-Year Break
On October 13, 2024, Stripe announced the reintroduction of cryptocurrency payment options, enabling businesses to accept USD Coin (USDC) from customers in over 150 countries. This strategic move was revealed by Jeff Weinstein, Stripe's product lead, and marks a significant development in the digital payments sector. Initially, the service is available to hundreds of thousands of U.S. businesses, with plans for further international expansion. Stripe's updated crypto services facilitate transactions across major blockchain networks, including Ethereum, Solana, and Polygon. A notable feature of this service is the automatic conversion of stablecoin payments into fiat currency, which aims to streamline the process for businesses. This reintroduction comes after Stripe's previous discontinuation of Bitcoin payments in 2018, which was due to issues related to volatility and transaction inefficiency. The new service imposes transaction limits of $10,000 per transaction and $100,000 per month, with a transaction fee of 1.5%. This initiative underscores Stripe's commitment to integrating cryptocurrency into its payment solutions, reflecting a broader trend towards digital currency adoption in the financial industry.
Disclaimer
Investing in private securities is speculative, illiquid, and involves risk of loss. An investment with Sunbrick Equity is a private placement and does not grant or transfer ownership of private company stock. No guarantee is made that a company will experience an IPO or any liquidity event.
Sunbrick Equity leverages advanced artificial intelligence (AI) technologies to generate Unicorn News to summarize updates about private companies. The news summaries and audio are both AI generated, based on the source(s) listed.
