Stripe Starts Testing Bitcoin Payments


In another validation of the bitcoin space, YC’s biggest payments company, Stripe, said it has started to test bitcoin and ACH payments with a select number of users.

They didn’t disclose who they’re partnering with, so it appears that they might be going their own way on this. Two of their better-known and funded competitors for processing merchant payments using bitcoin are Coinbase, another YC-backed startup, and Bitpay, which is backed by Founders Fund. (Founders Fund also backs Stripe).

The company isn’t sharing its fee structure for the time being. “We’re still testing the technology,” said spokesperson Kelly Sims.

Stripe did not reveal its banking partners. It says it’s doing instant exchanges as well, so merchants don’t need to handle bitcoin directly or deal with the cryptocurrency’s volatility risks. Sims clarified this further by adding that Stripe doesn’t take possession of the crypto-currency at any time; its partners on the…

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