Stripe Re-Enables Merchant Crypto Payments After Six-Year Hiatus

Stripe Inc. said individuals from more than 70 countries have used stablecoins for online transactions during the first 24 hours after allowing merchants using its platform to accept crypto payments again.

Stripe merchants in the US were authorized as of Oct. 9 to receive the Circle-issued stablecoin USDC through their online checkout pages. The payments firm was among the first to enable Bitcoin payments in 2014, but disabled the feature four years later, explaining that slow processing times were leading to failed transactions.

Legacy payments companies such as Visa Inc. have since entered the stablecoin market as interest in the ...