Firms like Stripe that left crypto earlier tend to join again, along with the new ones!

Looking at the all over popularity and mass adoption of cryptocurrencies bringing many payments firm’s hopes and beliefs back 

One of the world’s leading payment services companies Stripe has brought back its support to crypto payments. Now bringing back means that there was a time when the payment giant supported crypto payments like in bitcoin, even though it was among the first ones to do so. Later on, suddenly crypto payment services had stopped on the platform but it is getting back towards crypto. 

Stripe had embraced supporting bitcoin as payment services way back in 2014. But the firm has stopped the operations related to crypto payments completely after four years, in 2018. Now again after four years, it’s 2022 and Stripe has announced to re-enter the crypto market and also bring bags full of crypto-supported business products. 

As per co-founder of Stripe, John Collison wrote in his tweet on Thursday that the company would now support crypto businesses that include exchanges, wallets, on-ramps, and even non-fungible tokens or NFT marketplaces. 

These new services have evolved since Stripe has left crypto space and seeing their potential and popularity today, it was more apparent that payment giant would accept, support, and provide services related to them. 

Official Stripe website states that in 2014 the company became the first major payments company supporting bitcoin payments. However, in April 2018, the company stopped processing bitcoin transactions citing block size issues as its reasons and ultimately the company stated that bitcoin becoming less relevant and useful for payments and shut down crypto operations completely. 

Now the company getting the call for cryptocurrencies is really bringing back its attention towards digital currencies. In a blog post Stripe explained that they have learned that their optimism for the future of cryptocurrencies was not unfounded. It further stated that crypto is going more mainstream with the blockchain technology’s infrastructure development and getting widespread interest from major financial institutions. 

Stripe is one of the leading payment infrastructure companies double headquartered at San-Francisco and Dublin as of its American-Irish identity, along with that it has 14 offices globally. As its website puts it, millions of companies use Stripe’s payment services of Stripe across more than 120 countries. Their clients include giant companies around the world including Amazon, Google, Microsoft, Shopify, Uber, Shopify, Nasdaq, and a lot more. 

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Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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