Stripe to End Bitcoin Support

Decision is dictated by increased commissions and time of transactions
24 January 2018   817

Stripe, digital payments solution developer, will abandon bitcoin in April this year. As a reason, Stripe called high volatility and a long time confirmation of transactions. Information about this was posted on the company's blog.

Our hope was that Bitcoin could become a universal, decentralized substrate for online transactions and help our customers enable buyers in places that had less credit card penetration or use cases where credit card fees were prohibitive.

Tom Karlo

Stripe Team

However, over the years of its existence, bitcoin from a payment instrument has turned into an asset and has become unsuitable for making transactions that require a transfer in a short time. Over time, the popularity of bitcoin among Stripe users has dropped significantly.

For a regular Bitcoin transaction, a fee of tens of U.S. dollars is common, making Bitcoin transactions about as expensive as bank wires.

Tom Karlo

Stripe Team

Stripe began to support bitcoin payments in 2014 when the rate of cryptocurrency first reached a mark of $ 1,000 and people began to take it seriously. The company insists that it remains optimistic about the future of the cryptocurrency and calls some of the most promising projects: Lightning, OmiseGO, Ethereum, Bitcoin Cash, Litecoin. In addition, in the future Stripe can add support to Stellar, in the initial phase of funding which she took part. 

German Exchange to launch Bitcoin Products

Deutsche Boerse, the Frankfurt Stock Exchange holder, is deciding about the providing cryptocurrency products
24 May 2018   77

Reporting in London on Wednesday, at a significant event of the sphere, Jeffrey Tessler (the firm's chief of customers, products and core markets), declared: "We are deep at work with it." Nevertheless, any move into the crypto space from the stock exchange might not be forthcoming fast. When CME Group and Cboe Global Markets both started bitcoin futures trading last December, Tessler further claimed during the event that Deutsche Boerse is "not at the same stage." According to his point of view, the company is attempting to understand the volatility of the bitcoin market first and insuring clients and regulators are "in line" before stepping ahead with any offerings.

Whilst a move into offering bitcoin products is not definite, the exchange has already been active in the blockchain field. Deutsche Boerse unvealed details to CoinDesk about its plan to move the majority of its post-trade services to a blockchain last June. It affirmed at the time that it was interested in building a system, using Hyperledger's open-source Fabric protocol, in order to transfer securities and move commercial bank money, while still undertaking cross-jurisdictional compliance with regulators.

Also, as recently as March, the group declared it wish to deploy a platform for more operative securities lending using R3's Corda blockchain tech.