The Irish-American firm Stripe wants to join the ranks of those enabling their users to pay with cryptocurrencies.
Stripe primarily offers software for processing payments and an application programming interface for e-commerce websites. Now it’s building a new team to make payment by cryptocurrency available to clients.
Better quality, quicker, and even more trustworthy
A company with assets valued at over a 100 billion dollars is returning to the crypto sector after three years away. It had previously withdrawn its offer to support bitcoin because of long transaction times and rising fees. The company is now, however, looking for engineers and designers with experience in the encryption sector. The whole team will be working across the entire spectrum of the problem: from the website design and mobile interface, through to the payment and identification system.
Stripe’s move is a response to the demand for better basic tools for accepting payments, transferring funds, and even for exchanging between crypto and fiat currencies, i.e. currencies with enforced circulation. The company is striving for better quality, more trustworthy, and quicker work with cryptocurrencies.
Keeping stride with the competitionCompetitors already operating in the crypto sector include the payment gateway Squere (since 2018), PayPal (October 2020 for US customers), and Mastercard, which this February announced it would be supporting several cryptocurrencies. Stripe, meanwhile, started accepting bitcoin way back in 2014, but abandoned it due to the reasons outlined above in 2018.