The household brand of online payments, Stripe announced that it will be supporting cryptocurrency payments.
Stripe is partnering with crypto exchange platform, FTX, to bring cryptocurrency payments into action.
The company will accept fiat money payments in exchange for crypto from over 180 countries in its attempt to enter the on-ramp cryptocurrency payment.
Additionally, Stripe wallets with banking-as-a-service API will help customers in managing their money well.
Stripe Features Bundled With Cryptocurrency Payments
Stripe has assured that its global infrastructure and popular APIs are incorporated with crypto payments as well.
The company has increased its performance by optimizing the onboarding process. It also offers a support team that is completely dedicated to crypto.
Moreover, Stripe has eliminated a lot of formal documentation and questionnaires. Businesses can conveniently launch their applications without hassles due to this.
The premium solutions will include Stripe’s beneficial KYC process that accepts and verifies government IDs from 30+ countries thus making your business safe from fraudsters and scammers.
A Breakthrough Partnership With FTX US
FTX US President, Brett Harrison exclaimed how the crypto exchange platform has massively increased its user onboarding process and partnering with Stripe has made it even simpler.
Harrison continues to praise Stripe’s automated ID verification that has sped up the KYC process on the crypto payment platform. Additionally, the user experience has been great with automated approvals.
John Collison, co-founder and the President of Stripe took to Twitter to make the announcement that Stripe will now support ‘crypto businesses: exchanges, on-ramps, wallets, and NFT marketplaces’.
A Revival Of Stripe’s Crypto Payment
The company isn’t totally new to crypto payments. Earlier it also launched and suspended its support for bitcoin payments back in 2018.
In 2018, the company mentioned currency’s volatility, time-consuming transactions, and increasing processing fees as the main reasons to end its crypto payment ventures.