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Payments Giant Stripe Open to Launching Crypto Support, Highlights Potential of Solana and Lightning Network

Payments Giant Stripe Open to Launching Crypto Support, Highlights Potential of Solana and Lightning Network

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Source: Daily Hodle

Payments Giant Stripe Open to Launching Crypto Support, Highlights Potential of Solana and Lightning Network

The president of payments giant Stripe says the firm is open to the possibility of integrating crypto into its platform.

Three years after abandoning support for Bitcoin (BTC) due to volatility concerns, Stripe co-founder and president John Collison tells CNBC in a new interview that the industry titan is reconsidering its stance on crypto.

“One thing that’s interesting to us is that 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.

And so you have the layer 2 chains like Lightning, you have efforts like Solana, which is a dedicated chain towards payments, I think all that work is really interesting because we are interested in bringing more people into the global economy at Stripe.”

According to Collison, crypto could usher in more globalized payment rails. He says this aligns with the goals of Stripe and may force the tech giant to reconsider its position on the nascent industry.

“In countries where you have really well-developed credit card networks or bank transfer systems, then maybe the differential value of crypto is not that high.

But that is not all countries around the world. And so as we think about at Stripe, global coverage, then you start asking the question ‘is crypto an interesting way of complimenting that?’”

When asked if Stripe will begin accepting crypto as payments again, Collison said,

“We don’t yet, but I think it’s not implausible that we would.”

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The post Payments Giant Stripe Open to Launching Crypto Support, Highlights Potential of Solana and Lightning Network appeared first on The Daily Hodl.

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Author: Daily Hodl Staff