Stripe CEO Patrick Collison ‘very skeptical’ about cryptocurrencies

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Patrick Collison, co-founder and CEO of payment processing firm Stripe, is not sure if cryptocurrencies have a future.

“I’m very skeptical of anyone who’s adamant that crypto’s gonna work,” Collison said at the WIRED25 conference in San Francisco on Friday.

Cryptocurrency is currently not part of Stripe’s business model, but Collison said companies should try new things, even if they have a good chance of failing.

Notably, Stripe was one of the founding members of the Facebook-led stablecoin project Libra, but it dropped out of the project last month. “Stripe is supportive of projects that aim to make online commerce more accessible for people around the world. Libra has this potential. We will follow its progress closely and remain open to working with the Libra Association at a later stage,” a Stripe spokesperson said at the time.

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May 5, 2022, 3:17PM UTC
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