Stripe product manager Tom Karlo wrote in a blog post that the Stripe company would move away from bitcoin over the next few months, with a plan to fully end support for the largest crypto on April 23, 2018.
While the move to add bitcoin support seemed like a good idea in 2015, lengthy transaction times, increasing transaction failure rate and costly bitcoin transaction fees have rendered bitcoin support on the Stripe platform ineffective.
Stripe hints at support for Stellar
Tom Karlo writes,
“Because of this, we’ve seen the desire from our customers to accept Bitcoin decrease. And of the businesses that are accepting Bitcoin on Stripe, we’ve seen their revenues from Bitcoin decline substantially. Empirically, there are fewer and fewer use cases for which accepting or paying with Bitcoin makes sense.”
.Even though Stripe will not accept bitcoin payments after April 23rd, the company remains “very optimistic about cryptocurrencies overall.”
“We may add support for Stellar (to which we provided seed funding) if substantive use continues to grow,”
Stellar Lumens (XLM) price pushes up 20% in one day
Stellar (XLM) currently has a $9.9 billion market cap, making it the seventh-largest cryptocurrency in the world, and just $25 million behind sixth-ranked litecoin (LTC).