Payment company Stripe, the largest private fintech company valued at about $65 billion, enables US merchants to accept USDC payments through their online stores, settling natively in fiat. This could mean significant retail capital flowing into the crypto markets.

Crypto on Stripe Is Officially Back

Jeff Weinstein, product lead at Stripe, recently announced that crypto is back on Stripe. Stripe now accepts stablecoins from over 150 countries. Payments can be made in USDC via Ethereum, Solana, and Polygon, with US businesses receiving USD. The new feature works with checkout, elements, or payment intents, and subscriptions will follow soon.

Pay with Crypto – Accepting Stablecoins That Settle as Fiat

According to official Stripe documentation, the new feature 'Pay with Crypto' allows stablecoin payments to be accepted and settled as fiat. This is done without the complexity of holding and converting crypto to fiat, and Stripe charges a 1.5% transaction fee in USD.

739,000 Stripe Merchants in the US

According to Charge Flow data, 739,000 US merchants, or 56% of all active websites using Stripe, are based in the US. Stripe surpassed $1 trillion in TPV in 2023, 10 years faster than PayPal. Merchants in 51 countries use Stripe to accept payments, and it's valued at $65 billion, being the second most-used payment solution globally.

Overall, Stripe's new feature for US businesses could unlock impressive amounts of retail online money for the crypto industry. By introducing 'Pay with Crypto', Stripe is supporting the mass adoption of digital assets, starting with nearly 740,000 US-based merchants.