Stripe’s co-founder John Collison says that the financial company might get back to crypto as a form of payment after dropping it in 2018.
Collison says the recent development in bitcoin that makes it scalable at an acceptable cost make it a viable payment option. He adds that innovations by Solana and the BTC’s Lightning Network allow achieve scaling and cut transaction costs.
Stripe ended the use of BTC on its platform over three years ago, citing its volatility and inefficiency in payments.
The fintech’s head of engineering Guillaume Poncin announced in October that the firm was creating a crypto team to develop Web 3.0 payments. Stripe could make the latest entry into the crypto space after companies like PayPal and Square.
Stripe is a US-based online payment service provider for internet businesses founded in 2009 by John and his brother Patrick Collison.