Payment processing platform Stripe is looking to hire talent to form a cryptocurrency strategy team to steer the company’s future direction in digital assets, CoinDesk reported.
LinkedIn and social media posts indicated that the new team of at least four staffers will be under the direction of Guillaume Poncin, Stripe’s head of Crypto Engineering and former head of Engineering for Banking and Financial Products, according to the report. The new engineers will be tasked with designing and developing the central framework necessary to support use cases with cryptocurrency.
“We’re starting a new crypto team at @Stripe,” Poncin tweeted. “I’m hiring engineers and designers to build the future of Web3 payments.”
— Guillaume Poncin (@gponcin) October 12, 2021
“Many businesses and users already rely on and trust in Stripe,” a LinkedIn job post stated. “This gives us a massive opportunity to be at the forefront of a new wave of innovation.”
Crypto payment integrations have escalated across merchants, social media and FinTechs, prompting more companies to explore using the digital currency in some capacity, according to the report. Twitter’s bitcoin tipping feature, powered by Strike, is on the verge of releasing its payments application programming interface (API) in a move to advance wider crypto adoption.
One of the first companies in the industry to accept bitcoin in 2014, Stripe dropped the service in 2018. But Stripe never dumped crypto altogether; it instead studied the market developments to determine if or when it should return, the report stated, citing unnamed sources. Stripe is also closely eyeing nonfungible tokens (NFTs).
Last week, Tara Seshan, business lead at Stripe Treasury, told PYMNTS in an interview that crypto has a place in business payments, but the company didn’t have any announcements at the time.
“It’s certainly a space that we’re paying very, very close attention to,” Seshan said. “I don’t have anything to share right now, but we’ll be sure to share as soon as we do.”
Earlier this month, Spreedly, which is a payment orchestration platform, said it will offer seamless onboarding to Stripe as part of its partnership with that company. The Stripe Connect platform will allow adoption of better fraud fighting features, along with other value-added services.