V - Stripe Is Now Using Crypto Rails -- Is Square Next?
A month ago, I warned that Visa (NYSE: V) , Mastercard (NYSE: MA) , American Express (NYSE: AXP) , and Discover (NYSE: DFS) are in very real danger of losing their dominant position in the payments industry because of cryptocurrencies. The idea is that instead of "rails" created by credit card companies that can cost 2% to 3% per transaction and take days to settle, the payments industry will move to crypto rails, which will cost pennies and settle immediately.
Solana (CRYPTO: SOL) Pay was the first salvo in this battle, showing just how easy it is to build on crypto rails. But late last week, we saw that crypto payments are being taken extremely seriously by payments giant Stripe. This could be the first move, and I wouldn't be surprised to see Block (NYSE: SQ) and others follow soon.
Image source: Getty Images.
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Stripe Is Now Using Crypto Rails -- Is Square Next?