Stripe is again open to accept encrypted payments

Stripe president and co-founder John Collison attended the 2018 Viva Tech conference in Paris.

Christopher Morin | IP3 | Getty Images

According to co-founder John Collison, Stripe does not rule out accepting cryptocurrency as a payment method in the future.

Online payment company End support for Bitcoin payments In 2018, digital currencies became notorious for their price volatility and the inefficiency of daily transactions.

“For many different people, cryptocurrency obviously means a lot of different things,” Collison said at a panel discussion hosted by CNBC at the Abu Dhabi Fintech Festival on Tuesday.

Collison stated that certain aspects of cryptocurrency, such as its use as a speculative investment, “have nothing to do with our work at Stripe.”

However, he added: “Recent developments have focused on making cryptocurrencies better, especially the use of scalable and acceptable costs as a method of payment.”

When asked whether Stripe would start accepting encryption as a payment method again, Collison said: “We haven’t yet, but I don’t think it is incredible that we will do this.”

The company recently formed a team dedicated to exploring encryption and “Web3”, a technical buzzword that refers to a new, decentralized version of the Internet.

Working hard Led by Guillaume Ponsin, Stripe’s engineering supervisor.Earlier this month, the company Appoint Matt Huang, The co-founder of Paradigm, a crypto-focused venture capital firm, reports to its board of directors.

Read more about cryptocurrencies from CNBC Pro

Collison said that there are many potential innovations in digital assets, including solana—— Ethereum’s competitors, The world’s second largest digital currency-Bitcoin Lightning Network and other “layer 2” systems, designed to speed up transactions and process them at a lower cost.

Founded in 2009, Stripe has quickly become the largest private financial technology company in the United States. The company was last valued at 95 billion U.S. dollars, and investors included Baillie Gifford, Sequoia Capital and Andreessen Horowitz.

The company handles payments such as Google, Amazon with Uber, Has recently expanded to many other areas of finance, including loans and tax management.

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