After dropping Bitcoin as a payment option over three years ago while citing price volatility as a reason, Stripe’s co-founder says the company might reconsider its stance on cryptocurrencies.
In a recent interview, Stripe co-founder John Collison discussed the development that cryptocurrencies have made over the last three years, as well as how not every component of the cryptocurrency is practical for a payment firm like them.
He did not, however, rule out the potential of adding a crypto payment option in the future. He stated that it is not improbable that they may resume taking cryptocurrency.
Collison also stated that the company’s new crypto team is directed by Guillaume Poncin, the company’s head of engineering and that Matt Huang, the co-founder of crypto-focused venture capital firm Paradigm, has joined the board of directors.
During his interview, Collison hailed new and emerging crypto tokens that might allow for easy and hassle-free money transfers, while highlighting Stripe’s reopening of crypto payment options.
The Stripe co-founder was particularly taken with Solana ($SOL), which has risen to the top five in a bull market.
The use of cryptocurrencies as a means of payment is increasing as they become more prevalent. Paypal, Venmo, and even VISA are among the payment processing giants that provide crypto spending choices.
After expressing initial doubts, all of these payment behemoths have ultimately warmed up to cryptocurrency. Stripe, as a payment firm, has acknowledged that it would have to integrate crypto at some time, and they are willing to do so.