Stripe Decided to Create a Crypto-team 3 Years After Abandoning Bitcoin

American financial and technology giant Stripe, three years after abandoning Bitcoin, is assembling a new blockchain team to bring cryptocurrency payments to its users.

Three years ago, Stripe dropped support for Bitcoin (BTC) payments due to slow transactions and rising fees.

According to information on Stripe’s website, the company is looking for four “in-house engineers” with experience in the crypto sector.

Development chief Guillaume Poncin explained on Twitter that the company needs engineers and designers who can “build the future of Web3 payments.”

The recruiter requirements state that future engineers and designers will work on everything from web/mobile interfaces to the back end, as well as payment and identification systems.

Stripe co-founder John Collison added that the firm decided to dive into cryptocurrency after witnessing exciting developments in the cryptocurrency space:

“We started coding a year after we got rid of Bitcoins. We have always followed the sector, for example, the support for Bitcoins in 2013-2015. But developments over the past few years such as L2, new networks, stablecoins and DeFi are particularly impressive.”

Stripe’s move to accepting crypto payments follows the move into the crypto sector by its main competitors like Square, PayPal and Mastercard.

Stripe started accepting Bitcoins back in 2014. However, after four years, it stopped its support due to slow transactions and rising fees. In a blog post dated January 23, 2018, Stripe stated that it could return to the sector as soon as cryptocurrency payments become “viable”.

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