Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high

Source Fxstreet

Stripe seeks to incorporate USDC payments after a six-year wait.
USDC will become a major tool for crypto transactions among Stripe users.
Stablecoins' market cap has hit a record high since May 2022 amidst market volatility.

Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.

Read more: USDC stablecoin issuer Circle ends support on TRON due to compliance, risk management issues

USDC to go live on Stripe

After a six-year wait, Stripe is aiming to incorporate cryptocurrency payments into its products. The billion-dollar Fintech company recently announced that it would allow its customers to accept cryptocurrency payments using the USDC stablecoin.

The news was first announced by the company's President and co-founder, John Collison, on Thursday, stating, "Stripe is bringing back crypto payments - this time with stablecoins, which are a way better experience."

Also read: Tether moves against Venezuelan government's plans to leverage USDT for oil transactions

The addition of USDC stablecoin as a means of payment will be the first time the company has incorporated crypto payments since 2018 when it initially supported Bitcoin. However, it later removed support for the cryptocurrency due to its price instability.

With the integration, USDC could become a major tool for crypto transactions among Stripe users, improving public acceptance of cryptocurrencies in the process. This could be a major landmark for stablecoins among many other Fintech companies.

The stablecoin market has also seen a boost as its market cap grew amidst market volatility. As of April 24, the total market cap rose by 4.76% to $147 billion, the highest the market has experienced since May 2022.

Read more: USDT launches on TON blockchain as Tether announces US Dollar, Gold-backed tokens

Stablecoin trading volume also hit a new all-time high on centralized exchanges, rising 98.9% to a buzzing $2.18 trillion.

Stablecoins are hitting the markets stronger and becoming more useful to companies and governments seeking to adopt cryptocurrencies into their systems.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Forecast: Gold Eyes Key $4,400 Resistance as Falling Oil Prices Ease Inflation Pressure As of the Asian session on September 21, gold prices (XAUUSD) maintained high-level consolidation intraday today following a strong rebound last week, with the latest price trading around

Author TradingKey

15 hours ago

As of the Asian session on September 21, gold prices (XAUUSD) maintained high-level consolidation intraday today following a strong rebound last week, with the latest price trading around

Crude Oil Price Forecast: Can Brent Hold $100 as Saudi Export Recovery Weighs on Risk Premium?International oil prices fell for a fourth consecutive trading day on Monday, marking their longest losing streak since June. Although Iranian-backed Houthi militants launched fresh attac

Author TradingKey

15 hours ago

International oil prices fell for a fourth consecutive trading day on Monday, marking their longest losing streak since June. Although Iranian-backed Houthi militants launched fresh attac

Brent slides below $102 after Houthis' first strike on Riyadh — why oil can't hold $100 Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.

Author Irene Q.

20 hours ago

Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.

Today’s Market Recap: AI Chip Stocks Gain, SanDisk Surges Nearly 11%, Micron Rises Nearly 4%, Bitcoin Reclaims $80,000 Tracking Market TrendsTradingKey - On September 18, Eastern Time, U.S. stocks capped off a volatile week with the three major benchmarks closing mixed. Tech and semiconductor stocks extended their reb

Author TradingKey

22 hours ago

Tracking Market TrendsTradingKey - On September 18, Eastern Time, U.S. stocks capped off a volatile week with the three major benchmarks closing mixed. Tech and semiconductor stocks extended their reb

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

Yesterday 06: 19

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Popular Symbols