Stripe Expands Its Crypto Integration to the European Market, Enabling Customers to Purchase Bitcoin and Other Crypto Assets Using Their Cards
- PHPzOriginal
- 2024-07-18 04:27:10484browse
As reported by the Irish Independent today, customers within the European Union can now use their Stripe cards to buy a range of cryptocurrencies
Global payment processor Stripe has expanded its crypto integration to the European market, allowing customers to purchase Bitcoin and other crypto assets using their cards.
According to a report by the Irish Independent on Monday, customers within the European Union can now use their Stripe cards to buy a variety of cryptocurrencies, such as Bitcoin, Ethereum, and Solana.
Stripe is also enabling online merchants to integrate a crypto-purchasing widget onto their websites, streamlining the process and handling charges, disputes, and KYC requirements.
“This expansion will enable crypto companies to provide European consumers with a fast and easy way to purchase Bitcoin,” said John Egan, Stripe’s head of crypto, in a statement to the Irish Independent.
“Merchants can now tap into a broader global audience by leveraging Stripe’s onramp, which includes features like identity verification and fraud prevention. This allows them to focus on driving business growth and delivering exceptional customer experiences.”
The expansion is initially targeted at vendors and crypto marketplaces and builds on Stripe’s recent support of stablecoin payments for conversion and transaction settlements.
Back in June, Coinbase and Stripe joined forces to bring faster financial infrastructure to millions of businesses globally through the Base network. The partnership enabled Stripe to offer more affordable money transfers to over 150 countries using stablecoin USDC on Base.
Stripe boasts a vast customer base of major e-commerce companies worldwide. In its latest financial report, the company reported processing over $1 trillion in payment transactions in 2023. The figure marked a 25% increase from the previous year.
On Sunday, Stripe’s valuation reportedly surged to $70 billion after Sequoia Capital, one of Silicon Valley’s most prominent venture capital investors, consented to acquiring $861 million in private shares from other investors.
Stripe’s Well-timed Crypto Expansion to Europe
Stripe's latest crypto expansion to the European market comes amid the region emerging as a global leader in crypto adoption and growth. According to a recent report by CoinWire, Europe dominates the global crypto market, accounting for 37.32% of global transaction value.
The report predicts that Europe’s crypto trading volume will soar 270% to reach $40.5 trillion this year, compared to $15 trillion in 2022. Notably, the EU also recently implemented the first phase of its MiCA regulation, focusing on stablecoins.
The above is the detailed content of Stripe Expands Its Crypto Integration to the European Market, Enabling Customers to Purchase Bitcoin and Other Crypto Assets Using Their Cards. For more information, please follow other related articles on the PHP Chinese website!