30s Summary

Payment firm Stripe is enhancing its crypto services by introducing them to the Aptos blockchain. It is partnered with Circle, the stablecoin USDC’s creator, planning to launch the stablecoin on this network. The Cross-Chain Transfer Protocol will also incorporate the USDC, allowing the coin’s transfer across various blockchains and facilitating Aptos’s integration with decentralized finance applications. Stripe intends to help businesses transition money between traditional payment systems and the blockchain. The move seeks to offer efficient global fund transfers using stablecoins.

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The payment company, Stripe, is boosting its crypto services by bringing them to the Aptos blockchain, a layer-1 blockchain. In tandem with this, Circle, the company behind the stablecoin USDC, plans to launch its stablecoin onto the network. Until now, USDC was only accessible on Aptos in a bridged version. USDC will also be added to Aptos’s Cross-Chain Transfer Protocol. This tool can transfer USDC across different blockchains, aiding Aptos’s integration with decentralized finance applications.

With a goal to help businesses move money between traditional payment methods and blockchain, Stripe plans to provide Aptos with its crypto services. This would allow users to swap their government-issued currencies directly into USDC through crypto wallets enabled by Aptos.

John Egan, head of crypto at Stripe, shared that the move aims to provide consumers and merchants with more efficient fund transfers globally using stablecoins. Whether it’s a retailer accepting international payments or a platform paying creators anywhere in the world — all will be possible. Stripe’s focus on blockchain was further heightened this year when they acquired Bridge, a stablecoin payment firm, for $1.1 billion.