Crypto

Payments Giant Stripe Now Supports Crypto Payments for USDC Freelancers

Alex Dovbnya

USDC payments could be a game-changer for freelancers who don’t have access to a bank account

Payments giant Stripe has enabled payments in Circle’s stablecoin USD Coin (USDC) for freelancers, according to an announcement posted on September 22.

Circle co-founder Jeremy Allaire says the USDC coin represents a more inclusive way to send money to people around the world.

Freelancers who live in countries with large unbanked populations will likely struggle to get paid for their work.

Therefore, Striple’s recent addition of the USDC token could potentially be a game-changer for these people, as they are no longer limited to traditional payment options.

Stripe estimates that approximately 4.4 billion people are now potentially able to receive payments in the USDC token.

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“Such an important use case enabled by USDC! Nikhil Chandhok, product manager at Circle, commented.

The Palo Alto, Calif.-based company enabled cryptocurrency payments in the USDC stablecoin in April. Initially, the new service was only available to a select group of Twitter creators.

Early Bitcoin Developer Jeff Garzik complaints that stablecoins represent a “useful crypto killer application for the consumer” in response to news from Stripe.

As reported by U.Today, Stripe allows various cryptocurrency businesses, such as exchanges and wallet providers, to use its payment infrastructure.

Stripe has enabled Bitcoin support since 2015, becoming the first major payment company to do so. However, it then downgraded to the biggest cryptocurrency and removed the option in 2018. After the 2021 bull run, Stripe decided to take another look at crypto now that it has gained more adoption .



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