May 26, 2022

Payments giant Stripe is already a significant part of the Internet’s financial infrastructure, and is now rolling out support for cryptocurrency payments to provide customers with an easier way to connect Web3 users and interact with cryptocurrencies.

The company today announced a suite of products aimed at providing customers with access to tools and APIs that enable customers to buy and hold crypto tokens, make payouts, trade NFTs, and perform compliance workflows such as No Handling Your Customer ( KYC). . Stripe’s support page says the company’s products will allow users to buy over 135+ cryptocurrencies with fiat currencies in 180 countries.

Stripe co-founder John Collison named. Twitter Thursday to announce new features.

Stripe has had a complicated relationship with crypto over the years: it ended its support for bitcoin in 2018 and called the crypto “less useful” as a means of payment after initially backing the crypto in 2014. In October, the company began posting jobs to build a crypto team, and a few weeks later added Matt Huang to the crypto venture capital board. The company’s return to space poses a serious threat to existing cryptocurrency payment processors that lack the company’s broad reach.

In addition to the news, crypto exchange FTX announced a partnership with Stripe to improve identity matching features and user registration workflows.

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