Stripe Building New Crypto Team Three Years after Ending Bitcoin Support

UTC by Juhi Mirza · 2 min read
Stripe Building New Crypto Team Three Years after Ending Bitcoin Support
Patrick and John Collison, Stripe Co-founders. Photo: Fortune Brainstorm TECH / Flickr

Stripe is looking for individuals who can offer contemporary solutions to such issues as, for example, the exchange between crypto and fiat currency.

Stripe co-founder John Collison said that the recent exciting developments that have been taking place in the sector of cryptocurrency have compelled the company to consider coming back to their initial work domain. Collison further elaborated that the latest undertakings which took place in the crypto space such as L2s, Stablecoins, New Chains, and DeFi, in particular, have also played an instrumental role in making the company assess the value of the budding crypto-based technology.

Stripe Wants to Hire Experts with Crypto Knowledge to Facilitate Backend Operations

As per the job listing displayed on the company’s employment board, Stripe will be recruiting a fresh league of staff which will assist in scaling the company’s internal operations and keeping key essential services in check such as facilitating payments and identity systems and maintaining smooth web/mobile user interfaces. The listing further includes that the company is actively pursuing individuals who can offer contemporary solutions to issues such as, exchange between crypto to fiat currency, moving funds, and enabling global payments.

Stripe’s recent move comes at a time when its major competitors such as Square, Mastercard, and PayPal, have also joined the cryptocurrency bandwagon. Square had previously launched BTC trading on its Cash app in 2018, whereas Paypal had entered the crypto space in 2020.

Stripe had earlier withdrawn its crypto support citing issues such as rising transaction fees and slow processing issues. In a blog post updated in 2018, the company had dropped visible hints that it might join the crypto sector considering the new developments taking place in the lightning network as well as new emerging projects based on the Ethereum blockchain.

The current recruitment positions can be availed by citizens residing in the US. The listing includes prior crypto knowledge as a mandatory clause to be eligible for the post of staff engineer. Furthermore, the applicant must also possess considerable experience of ten years in the crypto space as an engineer to qualify for the job position.

Founded in 2011, Stripe is currently valued at $100M. The company primarily offers payment processing software that can be integrated by any website or app to facilitate smooth payment transactions. Along with that, the company expanded its portfolio of services in 2018, by including billing products for online businesses.  According to the data acquired from Built With, there are approximately 784,256 websites that have integrated Stripe’s payment processing software to conduct their online financial transactions with ease.

Cryptocurrency News, FinTech News, News
Juhi Mirza
Author Juhi Mirza

Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.

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