Forget Euros, get ready for Ether — Stripe just upped the game in Europe.
Stripe, the financial services provider, has extended its cryptocurrency integration into the European market, enabling local customers to purchase crypto using credit or debit cards.
As reported by the Irish Independent on July 16, shoppers within the EU can now use their Stripe-issued cards to buy Bitcoin (BTC), Ether (ETH), and various other cryptocurrencies.
Stripe announced that online vendors can now add a “widget” for crypto-purchasing on their websites. This widget will manage charges, disputes, and Know Your Customer (KYC) regulatory requirements for online crypto transactions.
John Egan, Stripe’s head of crypto, mentioned that the expansion enables crypto companies to assist European consumers in purchasing cryptocurrencies quickly and easily.
Merchants using Stripe’s onramp for conversion optimization, identity verification, and fraud prevention can now access a more global audience. This allows them to concentrate on expanding their business and supporting their customers.
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.”
Moreover, the report indicated that the move is initially targeted at crypto marketplaces and vendors. This follows Stripe’s recent announcement to support stablecoin payments, where transaction settlements are instantly converted to fiat currencies like dollars or euros.
On July 15, Sequoia Capital, a Silicon Valley venture capital firm, agreed to acquire $861 million in private shares from Stripe investors, raising the company’s valuation to $70 billion.
Stripe has headquarters in both San Francisco and Dublin, Ireland. Dublin, part of the EU, boasts a high per-capita rate of cryptocurrency ownership in Europe.
As per studies, Europe leads the global cryptocurrency transaction market, accounting for 37.32% of the total value. It is also one of the more proactive regions in creating and enforcing regulations for the crypto industry. These regulations aim to help lawmakers understand financial technology and provide traders and exchanges with clear guidelines for navigating the market.
