Payments giant Stripe has resumed its support for cryptocurrencies after it stopped processing bitcoin payments four years ago. The company now says, "Our optimism about the future of cryptocurrencies is not unfounded …… Cryptocurrencies are becoming mainstream."

Stripes back to cryptocurrency support

Four years later, payments giant Stripe has re-entered the cryptocurrency space with a suite of products that support cryptocurrency businesses.

Stripe is a payments infrastructure company headquartered in San Francisco and Dublin, with 14 offices worldwide. According to its website, millions of companies in more than 120 countries use Stripe to launch, operate and scale their businesses, including Amazon, Google, Shopify, Microsoft, Spotify, Uber and Nasdaq.

Stripe co-founder John Collison announced on Twitter Thursday that his company now supports cryptocurrency businesses, including exchanges, portals, wallets and the irreplaceable token (NFT) marketplace.

Stripe was one of the first major companies to accept bitcoin. "In 2014, we became the first major payments company to support bitcoin payments," the company explains on its website. However, Stripe stopped processing bitcoin transactions in April 2018, citing block size issues, which the company says caused "bitcoin to become less useful for payments."

Four years after Stripe stopped supporting bitcoin payments, the company explained in a blog post, "We learned that our optimism about the future of cryptocurrencies is not unfounded." The payments company elaborated.

From new developments in blockchain infrastructure to widespread interest from major financial institutions, cryptocurrencies are becoming mainstream.

"To better support our customers and continue to increase the GDP of the Internet, we are working to give cryptocurrency businesses access to today's global financial infrastructure – starting with FTX and Blockchain.com to expand consumer access to cryptocurrencies,. " Stripe further noted.

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