What feels like a back and forth battle between 60k and 70k for many weeks now not showing much in signs of really ever going much higher than that and the SEC and other sectors once again heavily cracking down on crypto that always seems to rebound there still comes some light and positive news in it all.
Stripes Integration
Stripe went after crypto many years ago. In fact they started to try to implement it into their payments four years ago during the last bull run. However they were hit with many roadblocks like we always see from the SEC and other government institutions.
In 2022 Stripe announced that it would allow for payouts in USDC however no payments. Payments and building a payments system takes a ton of work. In fact we saw Elon musk of Twitter (X) going after this and still years later has not launched his own payment network.
This is mainly because every state has unique cases and then also the government which causes things to be crazy slow. I'm all for some regulation and keeping things in check but the system we currently have now is total overkill IMO and stifles growth. There really is no reason why in this digital age tracking and applying for such things should not be more streamlined.
Stripes Payments
Personally I started using Stripe MANY years ago when Paypal was being a big B about everything. Let me just tell you if you are using Paypal today PLEASE STOP. It has to be the worst most abusive non caring payment company I've ever been a part of.
Stripe has been solid and I now use it for my business. The fees suck like always but they are standard for the most part. If you want to get a bit of a lower rate. and can operate all of your payments via Shopify you can often reduce that 3.2% transaction fee down to 2.9% or a bit lower which might not sound like a lot but trust me it adds up to a lot over time.
Stripe also jumped on board with Facebooks Libra. Yeah do you remember that thing? Facebook has had a bad run for a very long time. That feel flat and turned into a massive mess not only for Facebook but for other companies involved.
But now Stripe is back and this time they are working towards twitter and Elon musk and the USDC stablecoin from Coinbase. This move means people earning on Twitter(X) can now take their payouts in USDC which actully has me a little excited to test my hands into one of those junk accounts that just farm for impressions and see how much USDC I can make lol. I mean it can't be that hard right.
This is for sure just a small stepping stone for Stripe but it has the potential now of expanding into something much more. Strip did well over 1 trillion dollars in transactions last year and is growing by leaps and bounds.
I'm starting to think we will see crypto as a viable payment and payout solution be more common place across all aspects of the web. What are your thoughts?
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Hopefully they are getting better. Stripe shut down the Hivelist account when we added the NFT marketplace to the project, and it's not even tied to the actual store where Stripe was being used for payments. I fought them tooth and nail about it, but they must have changed some things.
The integration of crypto payments by Stripe is a positive development, especially considering the challenges posed by regulatory hurdles.
It's encouraging to see major players like Stripe recognizing the potential of cryptocurrencies like USDC for transactions.
As for the future, the wider adoption of crypto as a payment solution seems promising and could lead to significant growth in the space.