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A comment on Stripe to start taking crypto payments starting with USDC stablecoin.

Re:Stripe to start taking crypto payments starting with USDC... by toomuchtodo on Thursday April 25, 2024 @05:10PM (#40163052)
Can’t your bank just accept FedNow instant payments? You don’t need Stripe and stablecoins for them to do that. 20 second SLA, $100k value transfer at a time (to start, up to $500k based on specific institution risk profile), and they are free or very low cost.

https://www.frbservices.org/financial-services/fednow/organi...

https://www.moderntreasury.com/journal/fednow-launch

https://www.moderntreasury.com/questions/what-is-the-maximum...

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Re:Stripe to start taking crypto payments starting with USDC... by inhumantsar on Thursday April 25, 2024 @08:11PM (#40164562)
fednow is great and long overdue but how many of stripe's customers and their customers' customers are able to get US bank accounts?

Forex fees on credit cards tend to be painful outside of the US and wires aren't a viable option for most businesses.

[ Parent | on HN ]
Re:Stripe to start taking crypto payments starting with USDC... by toomuchtodo on Thursday April 25, 2024 @08:48PM (#40164781)
How much of Stripe’s volume is cross border payments? It's a big TAM [1], but also one central banks are coming for [2]. It's not a business, it's a utility pushing ISO 20022 messages around a bus [3].

[1] https://stripe.com/resources/more/cross-border-payments-expl...

[2] https://www.bis.org/publ/othp62.htm

[3] https://www.bis.org/cpmi/publ/d215.pdf

[ Parent | on HN ]
Re:Stripe to start taking crypto payments starting with USDC... by tail_exchange on Friday April 26, 2024 @12:49AM (#40166035)
Stripe does way more than just taking USD payments. If that's all you need, then sure, but let's not pretend they are are interchangeable.
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Re:Stripe to start taking crypto payments starting with USDC... by toomuchtodo on Friday April 26, 2024 @10:13AM (#40169698)
Agreed, but lets not pretend their value add for these trimmings justifies them consuming the entire value transfer TAM as their valuation argument.
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Re:Stripe to start taking crypto payments starting with USDC... by tail_exchange on Sunday April 28, 2024 @08:07PM (#40193124)
I'm not sure what you mean by that. What does it have to do with choosing Stripe over FedNow?
[ Parent | on HN ]