According to John Collison, co-founder of Stripe, cryptocurrency will be accepted by Stripe in the future.

Online payments company ended support for bitcoin paymentsIn 2018, the cryptocurrency was cited for its volatility and inefficiency in everyday transactions.

Collison stated that Cryptoto clearly means many different things to many people at the Fintech Abu Dhabi festival.

Collison said there were some aspects to crypto — such as its use as a speculative investment — that are “not that relevant to what we do at Stripe.”

He added that there have been many developments in recent times with an eye towards making cryptocurrency better, and, in particular scalable, and affordable as a method of payment.

Collison answered a question about whether Stripe will accept cryptocurrency as payment. “We don’t have the technology yet but it is plausible.”

A team was formed by the company to investigate crypto and Web3, which is a popular buzzword in technology that refers to an entirely new version of the internet.

It is worth it led by Guillaume PoncinStripe’s engineering head. The company was acquired by Stripe earlier this month. appointed Matt HuangParadigm co-founder and member of its Board of Directors is.

Collison said there are a number of innovations emerging in digital assets that have potential, including solana — a competitor to ethereum, the world’s second-biggest digital currency — to “Layer 2” systems like bitcoin’s Lightning Network, which aim to speed up transactions and process them at a lower cost.

Stripe was founded in 2009 and quickly grew to be the most valuable privately held fintech company in America. Investors include Sequoia Capital (Baillie Gifford), Andreessen Horowitz and Sequoia Capital.

Company that processes payments to the likes Google, Amazon UberRecently, he has developed into many other financial areas, such as tax management and loans.