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Stripe "does not rule out accepting cryptocurrency as a payment method in the future, according to co-founder John Collison.
The online payment company end " support for bitcoin payments in 2018, citing the digital coin's notoriety for its volatile price swings and inefficient day-to-day transactions.
"Crypto obviously means a lot of different things to a lot of different people, "Collison said during a CNBC-moderated panel at Fintech Abu Dhabi Festival on Tuesday.
Collison said there were certain aspects to crypto - like its use as a speculative investment - which doesn't match what we do at Stripe. "
But, he added: " There has been a lotup of developments in recent times with the aim of better cryptocurrency and, in particular, a scalable and acceptable cost as a method of payment. "
Asked if Stripe would start accepting crypto as a method of payment. payment again, Collison said: "We are not doing it yet, but I think it 's not unlikely that we will.
The company has recently formed a team dedicated to the exploration of crypto and "Web3, " a buzzword in technology that refers to a new, decentralized version of the Internet.
The effort is directed "by Guillaume Poncin , responsible for the Stripe engineering. Earlier this month, the company a "named Matt Huang , co-founder of the venture capital firm Paradigm, specializing in crypto, on his board of administration.
Collison said there are a number of emerging innovations in digital assets that have potential, including solana - a competitor " to ethereum , the world's second largest digital currency - to layer systems 2 "like the bitcoin 's Lightning Network, which aims to speed up transactions and process them cheaply.
Founded in 2009, Stripe quickly grew to become the largest privately-held fintech company in the United States. The latest company was valued at $ 95 billion and has investors like Baillie Gifford, Sequoia Capital and Andreessen Horowitz.
The company, which processes payments for people like Google , Amazon and Uber , "has recently expanded to a number of other areas of finance, including loans and tax management.