Stripe has been a great example of a mainstream payment processor that has allowed Bitcoin payments since 2014. This has often been pointed to as an example of a real-world use case for using Bitcoin as a currency to buy goods and services online. As transaction costs and processing times have greatly increased on the Bitcoin network, using Bitcoin for time-sensitive transactions has become less useful. Additional details on Stripe’s decision can be found here – Ending Bitcoin Support.
So, what is next for Stripe and cryptocurrency payments? There are some hints dropped in the Strip blog post we linked above:
Going forward, Stripe remains optimistic about the future of cryptocurrencies and we expect them to add support for altcoins. Which altcoin they add as a payment option next is up for debate and speculation. A lot of the speculation is centered around Stellar Lumens (XLM) due to Stellar’s fast transaction times, low fees, and the fact that Stripe was a significant early investor in Stellar.