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Stripe partnership with OpenNode on Accepts Bitcoin Payments of Lightning network
May, 27 2022
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On May 24, an
online payment processing platform, Stripe in collaboration with OpenNode
announced that it is set to give access to Bitcoin (BTC) payments after
suspending support for four years.
The crypto start-up,
OpenNode, has partnered with Stripe to permit its users to accept Bitcoin payments
through a new application.
Stripe users
will be able to convert incoming payments and any amount of balance they have
into Bitcoin utilizing the application. Lightning Network, which plans to make
Bitcoin exchanges quicker and less expensive, is utilized by OpenNode to settle
payments.
In April Stripe reported the choice of
utilizing a stablecoin payment strategy through its Stripe Connect service for creators
on Twitter. The OpenNode application is one more advance forward for Stripe
into the crypto space. Moreover, Stripe continued its drive into crypto after
contenders, for example, Block, PayPal Holdings, and Checkout.com gained
ground.
Since 2021, the
organization has enlisted crypto ability as well as helped monetary trades FTX
and Blockchain.com with verification of the users and online payments. With the
OpenNode organization, Stripe shows a reestablished interest in Bitcoin, the
world's biggest digital currency, after raising $20 million at a valuation of
$220 million in February.
While in 2018 Stripe
had been an early adopter of Bitcoin payments, the organization finished help
for the cryptocurrency, referring to slow exchange times, rising charges, and
disinterest from users as purposes behind the choice.
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Joyashree Dey
CBW - External Analyst
INDIA
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