Stripe Resumes Crypto Push Drawing Inspiration From Block, PayPal

  • Payments company Stripe Inc looks to give customers access to Bitcoin BTC/USDfour years after suspending support for the cryptocurrency, Bloomberg reports.
  • Stripe collaborated with crypto startup OpenNode to help its customers to accept Bitcoin payments through a new app. 
  • Stripe customers will be able to convert incoming payments and any amount of their balance into Bitcoin via the app. 
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  • OpenNode uses Lightning Network to make Bitcoin transactions faster and cheaper to settle payments. 
  • The partnership with OpenNode, specializing in Bitcoin, raised $20 million at a $220 million valuation in February, reflecting Stripe’s renewed interest in Bitcoin.
  • Stripe revived its push into crypto after rivals like Block, Inc SQPayPal Holdings, Inc PYPL, and forayed the industry.

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