Payments Giant firm, Stripe, hinted that they will accept crypto payments again in the future.
Stripe is a United States-based giant payment network firm, which enabled all the big companies like Google and Amazon to accept payments easily with the services of the Stripe network.
In 2014, Stripe grabbed huge attention in the crypto and non-crypto market through their initiative of the Bitcoin payment option. But later in 2018, Stripe announced to suspend Bitcoin payments because of the huge issues like high transaction fees, low scalability, and time consumption to wait for the confirmation of the transactions.
After a long time, John Collison – co-founder at Stripe- hinted that they may re-allow crypto payments in their payment system.
On 24 November, Collison appeared in an interview with the CNBC-moderated panel at the Fintech Abu Dhabi festival.
On speaking on CNBC, Collison said that Strike company is not ready to accept crypto payments right now but questions regarding the crypto payments integration are not out of the company’s course.
Collison asserted about the use cases of the crypto assets. According to Collison, there are many use cases like stores of value, tradable assets, and “a lot of different things to a lot of different people ”.
However, Collison said that Crypto assets are not part of the need of stripe, for which they are looking to invest.
On the improvement of the crypto and blockchain, Collison said that the whole crypto and blockchain industry changed into something new in the present time over the last years. Developers are doing their best to make the blockchain network more scalable, faster, and efficient.
According to Collison, in the present time, Ethereum killer Solana and Bitcoin lightning Concept are better options to fulfil the requirements of scalability and efficiency in the transactions.