Stripe, the online payment behemoth, has expanded its digital asset services to European customers.
As of July 16, 2024, consumers across the European Union can now purchase Bitcoin, Ethereum, and other cryptocurrencies using Stripe-issued credit or debit cards.
According to a report from The Irish Independent, Stripe has introduced a new “widget” feature for online vendors that simplifies the process of adding cryptocurrency purchasing options to their websites, managing charges, resolving disputes, and ensuring compliance with Know Your Customer (KYC) regulations.
John Egan, Stripe’s head of crypto, reportedly stated that this expansion allows crypto companies to help European consumers “buy cryptocurrencies quickly and easily.”
“Now, merchants who rely on Stripe’s onramp for things like conversion optimization, identity verification, and fraud prevention can reach a more global audience. This lets them focus on growing their business and helping their customers,” Egan added.
Stripe, with dual headquarters in Dublin and San Francisco, is a leading player in the online payment industry, serving thousands of major e-commerce firms globally.
Coinciding with this expansion, Stripe’s market valuation has climbed to $70 billion. This increase comes as Sequoia Capital offers to purchase shares from investors looking to exit their positions in the fintech giant. Axios reported that Sequoia is proposing to buy Stripe shares at $27.51 each. Stripe co-founder John Collison has also confirmed this development on social media.
Meanwhile, this development aligns with the growing trend of integrating cryptocurrency services into mainstream financial systems, particularly in Europe.
Visa recently partnered with WireX to boost cryptocurrency adoption in the UK and Europe. Announced on July 15, 2024, the collaboration aims to create innovative payment solutions and reduce transaction friction. Visa cards will be integrated with WireX’s new ‘modular Zero Knowledge (ZK)’ payment mainnet, Wirex Pay, to streamline digital and mainstream transactions, effectively bridging the gap between blockchain technology and traditional finance.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.”
