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Stripe CEO Signals Possible Support For Cryptocurrency Operations

Published: 22/09/2018
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What is it for?

According to John Collison, the president and co-founder of the payment processor Stripe, cryptocurrency has a great potential as a means of payment. Despite suspending bitcoin support, the startup does not exclude the possibility of working with other cryptocurrencies, Recode reports.

 

Collison expressed his opinion that cryptocurrencies are very likely to become an inseparable means of payment, especially outside of the US and in countries with a poor infrastructure. He also considers the long-term potential of the cryptocurrencies, and assumes that the company may provide token-based payment services to remote countries.

 

John Collison, co-founded Stripe

 
Source: wikipedia.org

 

Processing payment service Stripe ceased bitcoin support in January this year. According to Collison, such payments were rather time-consuming and bitcoin's price surges caused myriad problems to customers and the company as a whole. He noted that the cryptocurrency's rate could fluctuate right during the transaction.

 

However, the refusal to process bitcoin operations does not mean that Stripe gives up on all other cryptocurrencies.

 

Source: Stripe.com

 

Collinson did not make any forecasts with regard to the future of the crypto industry, adding that it is still undetermined — especially concerning the use of tokens as a means of exchange.

 

Stripe has already demonstrated support for the crypto sphere — earlier this year, the company invested in startup Stellar, which issues XRP tokens. Now this cryptocurrency is positioned 7th by total market cap, according to CoinMarketCap.

 

As previously reported, a Ukrainian company launched an offline cryptocurrency exchange service.

 
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Stripe cryptocurrency
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