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Adyen isn't ready to process crypto payments, blames volatility as the main factor

Adyen boss seems to be ignorant by the fact that any crypto can be fixed in fiat right after the transaction

11.Feb.21 11:07 AM
By Abigail Richards


Adyen isn't ready to process crypto payments, blames volatility as the main factor
The Adyen fintech company is not convinced of bitcoin as a means of payment. CEO and co-founder Pieter van der Does van Adyen says to the American news channel CNBC that the bitcoin and other coins 'show too many value fluctuations', which makes them seem unsuitable for transactions. Which is rather spectacular way to say that CEO is gross incompetent.

Adyen processes payments from companies such as Facebook, Netflix and Uber. According to Van der Does, bitcoins and other cryptos should be seen more as an investment than as a payment method.

Tesla car manufacturer invested 1.5 billion dollars in bitcoins earlier this week. This caused a huge increase in the value of the currency and led to speculation that more companies would follow Tesla. Tesla's Elon Musk also announced that it would accept payments in bitcoins.

Credit card company Mastercard said earlier that he intended to accept certain cryptomunts on his network. On the question of whether Adyen could do the same, Van der Does said that 'there is no demand for it from his customers'. The Adyen CEO also notes that potential means of payment require stability.

Adyen once allowed his customers to accept bitcoins as payment option, but does not support the coin any more.

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