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Benzinga

Anusuya Lahiri

Stripe Resumes Crypto Push Drawing Inspiration From Block, PayPal

Stripe Bitcoin Crypto Nasdaq NYSE PYPL SQ Wells Fargo fintech

Payments company Stripe Inc looks to give customers access to Bitcoin (CRYPTO: BTC)four years after suspending support for the cryptocurrency, Bloomberg reports.
Stripe collaborated with crypto startup OpenNode to help its customers to accept Bitcoin payments through a new app.
Stripe customers will be able to convert incoming payments and any amount of their balance into Bitcoin via the app.
Also Read: Wells Fargo Lists Its Picks In the Fintech Universe - See Which Stocks Made the Cut
OpenNode uses Lightning Network to make Bitcoin transactions faster and cheaper to settle payments.
The partnership with OpenNode, specializing in Bitcoin, raised $20 million at a $220 million valuation in February, reflecting Stripe’s renewed interest in Bitcoin.
Stripe revived its push into crypto after rivals like Block, Inc (NYSE: SQ), PayPal Holdings, Inc (NASDAQ: PYPL), and Checkout.com forayed the industry.

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