Stripe Introduces USDC Subscription Payments on Base and Polygon
on October 14, Stripe unveiled a new feature: subscription payments in USDC. this service is now available on the Base and Polygon blockchains. It’s a big step for stablecoins in everyday transactions.
Stripe’s move targets merchants who rely on recurring revenue. About 30% of Stripe’s merchants fall into this category. The platform will use smart contracts to allow users to make regular payments directly from their crypto wallets. These payments will settle in traditional currency.
Users can manage their USDC subscriptions through the Stripe Dashboard. This feature is expected to attract more crypto users and those without access to other payment methods. Alex mashrabov, CEO of Higgsfield, is thrilled. He believes stablecoin payments will reduce costs and attract tech-savvy users.
Stripe’s smart contract technology makes this possible. It lets customers authorize their wallets for recurring payments without needing to sign each transaction. The system supports over 400 wallets. Initially, it’s for U.S.-based businesses.
Stablecoins are gaining traction. They offer faster, cheaper cross-border transactions. As an example, 19 of the top 20 U.S. companies on Stripe earn 60% of their revenue from abroad. Stablecoins help these companies save on fees.
Stripe sees this as a notable growth. It could make stablecoins more mainstream. The company aims to make crypto payments easier and more accessible.
