Matt Huang will help the new Stripe team develop crypto services.
Paradigm co-founder Matt Huang joins the board of directors of payments startup Stripe.
Paradigm founder Matt Huang was previously a partner at Sequoia Capital. Under his leadership, Paradigm invested in DeFi companies, NFT projects, and crypto mining companies. Matt has also invested in ByteDance Corporation and food delivery service Instacart.
Stripe wants to use crypto expert knowledge and experience to develop new services, the company said.
“As a long-time investor and leading crypto expert, Matt’s perspective will be very useful as the newly formed Stripe crypto team is exploring the potential for product development,” the press release said.
In October, it was revealed that Stripe had opened a four-employee crypto division. The team must help the company “build the future of Web3 payments,” said Stripe’s chief engineering officer, Ponchin. The top manager then said that he himself would lead the new team.
Cryptocurrencies are leveraging Stripe as a tool to provide faster and cheaper payments to businesses, “especially in closed markets,” the press release notes. Keep in mind that Stripe started working with bitcoin in 2014, but in 2018 the startup stopped supporting cryptocurrencies.
Cryptocurrency payments are also controlled by Facebook (now Meta). The corporation launched the Novi digital wallet in the US and Guatemala last month.
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