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.
Circle Internet Financial would have a distinct advantage over global stablecoin leader Tether under U.S. regulations along the lines being suggested by new legislation, according to one of the latest bill’s authors, Sen. Cynthia Lummis (R-Wyo.).
Stablecoin issuer Circle introduced a new smart contract function earlier Thursday to allow near-instant, around-the-clock redemptions from BlackRock’s BUIDL fund for USDC stablecoins.
Rapidly expanding stablecoin supply shows that “fiat money is being moved into crypto at an accelerated pace,” 10x Research’s Markus Thielen said.
Following the success of Tether and USDC, a generation of stablecoins are offering new features for investors and holders, says Scott Sunshine, Managing Partner of Blue Dot Advisors.
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 decentralized exchange settled over $500 million in trades on Sunday, briefly becoming the biggest DEX platform.
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.