John Collison is the President and co-founder of Stripe.
John Collison, co-founder of Stripe, said that the company isn't ruling out accepting cryptocurrencies as a payment method in the future.
The online payments company ended support for the digital coin due to its reputation for volatile price swings and a lack of efficiency.
At a CNBC-moderated panel at the Fintech Abu Dhabi festival on Tuesday, Collison said that cryptocurrencies mean a lot of different things to a lot of different people.
The use of a speculative investment is not relevant to what we do at Stripe.
There have been a lot of developments in the last few months with an eye to making cryptocurrencies better and more accessible.
It is not implausible that we would accept the new payment method, but we don't yet.
The company recently formed a team dedicated to exploring the topic of cryptocurrencies and the new internet term, "Web3."
The head of engineering at Stripe is leading the effort. The company appointed Matt Huang, co-founder of Paradigm, to its board of directors.
There are a number of innovations emerging in digital assets that have potential, including solana, a competitor to ethereum, the world's second-biggest digital currency, to "Layer 2" systems like the Lightning Network, which aim to speed up transactions and process them.
Founded in 2009, Stripe has quickly become the largest privately-held fintech company in the U.S.
The company, which processes payments for companies such as Amazon, has expanded into a number of other areas.
