Payments giant Stripe is announcing global support for USDC settlements over the Ethereum (ETH), Solana (SOL), and Polygon (POL) blockchains.
In a new post on the social media platform X, Jeff Weinstein, the head of products at Stripe, says that crypto assets are officially back on the platform and will be available for use in over 150 countries around the world.
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“Okay, crypto on Stripe is officially back!
- Accept stablecoins from 150+ countries
- Buyers pay in USDC (via Ethereum, Solana, Polygon)
- You, as a USA business, receive USD
- Works with checkout, elements, or payment intents (and soon subscriptions).
We’re rolling this out to hundreds of thousands of usa businesses today (then more countries).”
Stripe used to support payments made using crypto king Bitcoin (BTC) until 2018. In April of that year, it discontinued its support for the top crypto asset by market cap, citing its lack of utility as a payments rail.
According to Stripe’s official website, the Pay with Crypto features allows merchants to accept digital assets to settle fiat balances without having to go through the hassle of converting or holding the crypto assets themselves.
“Pay with Crypto lets you accept stablecoin payments that settle as fiat in your Stripe balance. You can accept USDC payments on Ethereum, Solana, and Polygon without the complexity of holding or converting crypto to fiat yourself. We charge 1.5% of the transaction amount.”
In April, Stripe co-founder and president John Collison announced that Stripe would be kicking off USDC-based payments sometime during the summer.