The company was one of the first large entities to declare support to bitcoin way back in 2014 but then it had to give up its forway in about 4 years as it could not make much headway as the adoption of cryptos at that time was pretty low and it was also felt that bitcoin was more a store of value rather than something that can be used as a means of exchange. So, it has sat out the last 3 years while the crypto ecosystem continued to develop and transform, and with the market maturing during this period and the users also entering into the industry in droves, it has pushed to re-enter this space again.
Details of what this entry is going to entail are not known as yet and it is learnt that it is going to have only a 4-member team as of now, which when compared to the 4000 employees that it has overall, is merely a drop in the ocean. The company supports thousands of merchants all across the globe who find its intuitive and simple API very easy to integrate into their payments platform and the end-users also find it easy to work with and operate. So, the company has the power to reach out to millions of merchants and users at the same time and if it does decide to offer this crypto payment option on its entire platform, that would be a huge boost for the crypto industry in the long term.
It would also be interesting to see its choice of a blockchain network that it will be using for its foray into this space as the networks do know the kind of influence that Stripe wields amongst its users and hence would be clamouring for its attention. This is further proof that the move of cryptos into the mainstream is happening at the moment and there seems to be no going back. The only thing that is holding back its mass adoption is the looming threat of regulation and depending on how the authorities consider crypto, it is only going to be a matter of time before mass adoption sets in.
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