Stripe to Start Accepting Bitcoin Payments Again

Stripe, an online payment processing platform, said on Wednesday that it is set to resume access to Bitcoin (BTC) payments after suspending it four years ago. According to Bloomberg, cited by The Straits Times, OpenNode, a crypto start-up, has partnered with Stripe to allow its customers to accept Bitcoin payments through a new app.

Stripe customers will be able to convert incoming payments and any balance they have into Bitcoin using the app. Lightning Network, which aims to make Bitcoin transactions faster and cheaper, is used by OpenNode to settle payments.

Stripe announced in April the option of using a stablecoin payment method through its Stripe Connect service for creators on Twitter. The OpenNode app is another step forward for Stripe into the crypto space. Additionally, Stripe resumed its push into crypto after competitors such as Block, PayPal Holdings and Checkout.com made headway.

Since last year, the company has recruited crypto talent as well as assisted financial exchanges FTX and Blockchain.com with customer verification and online payments. With the OpenNode partnership, Stripe shows a renewed interest in Bitcoin, the world’s largest digital currency, after raising $20 million at a valuation of $220 million in February.

Stripe Apps Launch

Yesterday, Stripe announced the official release of Stripe Apps and the Stripe App Marketplace. Through Stripe Apps, businesses can simplify operations and combine fragmented workflows.

By using the Intercom app in the Stripe App Marketplace, a customer support agent can see a customer’s full history of support and directly reply to support tickets from Stripe’s Dashboard customer details page. In addition, the Stripe App Marketplace offers apps for accounting, analytics, CRM, eSignature, marketing and other business functions. More than 50 apps will be available at launch, including DocuSign, Dropbox, Intercom, Mailchimp, Ramp and Xero. Over time, Stripe plans to add more partners and apps, as well as non-English language apps.