One of the world’s largest payments companies is making a new bet on stablecoin adoption.
What’s happening:
- Stripe has announced that they plan to launch new features which will enable payments being made through the popular stablecoin USDC for the first time ever
Why it matters:
- Stablecoins have been on the rise, with the parent company of USDC filing for an IPO on a major US stock exchange and PayPal seeing massive growth in the adoption of their own stablecoin PYUSD
Going deeper:
- Stripe previously distanced themselves from crypto and digital assets, having banned Bitcoin as a payment method due to its volatility in price
- Stripe also previously stepped away from their initial partnership with Meta (NASDAQ: META) to build Libra, which was aiming to be blockchain based stablecoin payment system accessible globally
The intrigue:
- Ethena recently launched their stablecoin on centralized exchanges with a disruptive new way to underpin its value
