Stripe to accept USDC on Ethereum, Solana and Polygon, marking a return to the crypto markets for the payment platform after a six year hiatus

Stripe is re-entering the crypto space by enabling merchants to accept USDC stablecoin payments on the Ethereum, Solana, and Polygon networks (with Base also supported in Stripe’s broader stablecoin product set). According to Stripe’s April 2024 announcement, customers will be able to pay in USDC using their preferred self-custodial crypto wallets, while merchants receive funds in fiat (USD) in their Stripe balance, insulating them from crypto custody and volatility. This marks Stripe’s first major move back into consumer-facing crypto payments since it ended support for Bitcoin in 2018 due to concerns over volatility, transaction costs, and speed. The move is part of a wider stablecoin and crypto strategy: Stripe’s documentation shows that US businesses can now enable a “Crypto” payment method to accept stablecoins via Checkout, Payment Links, Elements, or the Payment Intents API, with payments settling in USD and refunds sent back in stablecoins to the original wallet. USDC is supported across multiple networks (Ethereum, Solana, Polygon, Base), allowing users to choose cheaper and faster chains while Stripe abstracts away blockchain complexity for merchants. This relaunch matters because it brings one of the largest global payment processors back into on-chain payments, potentially normalizing stablecoin use in mainstream commerce and providing Web2 and Web3 businesses with a familiar, regulated gateway into crypto-denominated transactions without requiring them to directly hold or manage digital assets.

✨ AI-generated background, compiled from web sources — not editorial content.

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