• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, May 18, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Stripe launches support for crypto and NFTs

by Om Chaturvedi
March 12, 2022
in Crypto, NFTs
Reading Time: 2 mins read
0
Stripe launches support for crypto and NFTs

Credits: Business Insider

TwitterWhatsappLinkedin

Payment giant Stripe is back in the cryptocurrency business with the launch of a suite of products to support crypto payments on its platform.

You might also like

FTX Launches $5.4 Billion Plan to Pay Creditor Fees

Alabama Man Sentenced for SEC X Account Hack That Faked Bitcoin ETF Approval

Robinhood’s Big Move into Canada: A $179M Deal for WonderFi

“Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT marketplaces. Not just pay-ins but payouts, KYC (Know Your Customer) and identity verification, fraud prevention, and lots more,” Stripe co-founder John Collison announced on Twitter.

stripe
Credits: Decrypt

Its clients already include Blockchain.com, Nifty Gateway, Just Mining, and the $32 billion-valued FTX, whose president, Brett Harrison, testified that Stripe’s automated identity verification “greatly increased speed of KYC [know your customer] processing, higher rates of automated approvals, and a smoother UX for our customers.”

However, Stripe has lagged behind its major competitors Block (formerly Square) and PayPal in venturing into crypto. Block—led by noted blockchain enthusiast Jack Dorsey, who renamed his company after the Web3 technology—has offered crypto capabilities for years.

PayPal and its subsidiary Venmo have both supported buying, selling, and holding crypto since early 2021, and PayPal is also reportedly exploring a launch os own stablecoin.

According to an announcement, the partnership will also see Stripe providing payment services for the exchange. Based on the partnership, FTX and FTX users will be able to buy crypto using debit cards and direct bank transfers via Automated Clearing House (ACH) transactions.

Crypto
Image Source: Kim Komando

Today’s announcement is the first major crypto-related news from the company since it announced the creation of a team in October last year.

At the time, the company stated that it was hiring engineers and designers to build the future of Web3 payments.

In 2018, Stripe wrote, bitcoin had “evolved to become better-suited to being an asset than being a means of exchange.” But once-high transaction costs have fallen, and Stripe started rebuilding its crypto team last fall.

The toolkit for crypto businesses include API integrations like Stripe Connect, which allows users to pay out fiat currencies in over 45 countries, and Stripe Identity, an identity-verification system to mitigate fraud.

The payments giant partnered with FTX to improve payments processing and build a fiat-to-crypto on-ramp for the crypto exchange. The partnership builds on an existing relationship: FTX had previously integrated Stripe Identity to improve its know-your-customer processes

Tags: #CryptoNFTStripe
Tweet54SendShare15
Previous Post

Chris Dixon to invest in NFT arts

Next Post

Adobe is adding support for the polygon cryptocurrency platform

Om Chaturvedi

Om is a final year Engineering student in Panjab University, Chandigarh. Content Writer by Choice. Special Interest in Crypto, Metaverse and AI. Three Years of Experience in writing and ambitious to bring change with Pen & thoughts.

Recommended For You

FTX Launches $5.4 Billion Plan to Pay Creditor Fees

by Anindya Paul
May 18, 2025
0
FTX

FTX, the now-defunct cryptocurrency exchange that went bust in November 2022, will be making a second round of distributions amounting to $5.4 billion to its creditors on May...

Read more

Alabama Man Sentenced for SEC X Account Hack That Faked Bitcoin ETF Approval

by Anindya Paul
May 18, 2025
0
Alabama Man Sentenced for SEC X Account Hack That Faked Bitcoin ETF Approval

In a landmark case underscoring the vulnerabilities of high-profile social media accounts, 26-year-old Eric Council Jr. of Alabama was sentenced to 14 months in prison for his role...

Read more

Robinhood’s Big Move into Canada: A $179M Deal for WonderFi

by Anindya Paul
May 16, 2025
0
Robinhood’s Big Move into Canada: A $179M Deal for WonderFi

Robinhood Markets has made its move into Canada with the acquisition of Canadian crypto company WonderFi Technologies for C$250 million (US$179 million) in a cash deal, representing a...

Read more
Next Post
Adobe is adding support for the polygon cryptocurrency platform

Adobe is adding support for the polygon cryptocurrency platform

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?