Following the partnership, users will be able to integrate Stripe Connect into their websites and shops, and, once the funds have been received, will be able to choose whether to store the money on Polygon, or exchange it for another cryptocurrency.
A Contemporary Vision Prompted by Growing Crypto Needs
The Web3 hype of 2021 made Stripe change their outlook on cryptocurrencies in general, and the rising need for a decentralized, blockchain version of the internet prompted the company to form a Web3-dedicated team in order to provide crypto solutions for their customers. A number of major payment processors have already made crypto-related moves, such as PayPal (NASDAQ:PYPL), MasterCard, Visa (NYSE:V), and more.
Despite dropping Bitcoin nearly 4 years ago, Stripe recently announced its intention to reintegrate Bitcoin, as well as to add a wider selection of cryptocurrencies by the end of 2022. In 2018, Stripe had expressed concerns about Bitcoin’s adaptability in everyday transactions and cited the lack of interest in crypto payments shown by their customers. However, the tables have now turned: “We’re focused on helping creators connect with their audiences in new ways,” said Esther Crawford, a representative of Stripe. The company plans to expand the feature and make it available in 120 countries by the end of the year.
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Source: Cryptocurrency - investing.com
