Payment company Stripe has started forming a crypto engineering team to plan its future in digital assets.
The team described in the LinkedIn posts and vacancies is led by Guillaume Poncin, former head of banking and financial product engineering at Stripe. He hopes to hire at least four people to help develop Stripe’s crypto strategy.
These engineers “will design and build the core components we need to support encryption use cases,” the job posting stated.
Stripe’s relatively modest hiring surge with 4,000 employees comes at a time when the integration of crypto payments for online merchants and even social media platforms is on the rise. Strike, the crypto startup behind Twitter’s new bitcoin tipping feature is preparing to release its payment API to actively seek mass adoption of cryptocurrencies.
The team may be new, but Stripe’s interest in encryption can be traced back several years. As a payments giant whose API supports millions of digital storefronts, it made headlines when it supported Bitcoin in 2014 – an industry first.
But a source stated that Stripe never left cryptocurrency. The company continues to focus on the development of the digital assets area and weighs whether and how one can participate again. According to sources, it has shown increasing interest in non-fungible tokens (NFTs) in recent months.
The source said one thing the company was considering was the need to avoid choosing the most popular products. Stripe already supports several traditional online payment options. The source said it hopes to remain technologically neutral when it comes to cryptocurrency.
It was slightly less cautious in early 2018. Ending Stripe’s bitcoin era with a pledge to maybe integrate Stellar, which it seed-funded years earlier, the company’s announcement boosted Stellar’s native currency, XLM, 20% in a day.
Stripe is aware of its influence in online payments. The firm has said it processes hundreds of billions of dollars in e-commerce annually; that 90% of American adults have utilized it; that its API (which still contains code to facilitate bitcoin transactions) is used hundreds of millions of times a day.on