Stripe Brings Back Crypto Payments Via USDC Stablecoin
Six years after dropping support for bitcoin and, thus, crypto payments altogether, Stripe is bringing back the service later this summer, though initially only for Circle’s USDC stablecoin.
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Six years after dropping support for bitcoin and, thus, crypto payments altogether, Stripe is bringing back the service later this summer, though initially only for Circle’s USDC stablecoin.
It could be part of a long-time realignment separating compliant and gray-market crypto, says Daniel Kuhn.
Circle cited its “risk management” framework as part of the decision, among other factors.
A 1976 Treasury bill worth $5000. (Wikimedia/CoinDesk)
Celo, which is in the midst of transforming into an Ethereum layer 2 network, increasingly positions itself as a blockchain for real-world assets.
The integration allows developers to build cross-chain use cases via Chainlink’s CCIP that involve multichain transfers of Circle’s USDC stablecoin.
Since its introduction in 2018, USDC has been used to settle over $12 trillion in blockchain transactions.
Circle’s USDC stablecoin spiked down to as low as $0.74 on three occasions today following a marketwide sell-off spurred by a report casting doubt over whether a spot bitcoin ETF will be approved this month.
The proposed stablecoin, which tokenizes ownership of Treasuries, mentions BlackRock, Circle, Fireblocks and Coinfirm as “institutional partners.”
USDC issuer Circle Internet Financial said it is curbing support for individual consumer accounts to mint stablecoins, with currently only accepting qualified institutional clients.