2 min read
Stripe, the online payments giant, has expanded its cryptocurrency integration into the European Union. This new development allows European shoppers to buy Bitcoin, Ether, Solana, and other cryptocurrencies using their credit or debit cards. The initiative is part of Stripe’s broader effort, led by Limerick-born brothers Patrick and John Collison, to facilitate everyday transactions with virtual assets.
Related: $16 Billion Injected Into Stablecoin Economy in 90 Days; One Dominates with 69% of Total
Initially targeted at crypto marketplaces and vendors, this EU expansion follows Stripe’s recent announcement of supporting stablecoin payments. Stablecoin transactions settle instantly and convert automatically to fiat currencies such as euros or dollars. Stripe assures that online vendors can now integrate a crypto-purchasing widget on their websites, managing issues such as charges, disputes, and ‘Know Your Customer’ (KYC) regulatory responsibilities associated with online crypto payments.
Ireland frequently ranks high in European surveys on per-capita cryptocurrency ownership. “This expansion enables crypto companies to help European consumers purchase cryptocurrencies quickly and easily,” said John Egan, head of crypto at Stripe. “Merchants using Stripe’s onramp for conversion optimization, identity verification, and fraud prevention can now reach a more global audience, allowing them to focus on business growth and customer service.”
Related: Surge in Euro Stablecoin Market Fueled by MiCA Regulations
Stripe, co-headquartered in Dublin and San Francisco, is one of the world’s largest online payment companies, utilized by thousands of major e-commerce firms. Its latest financial report revealed that Stripe processed over $1 trillion in payments in 2023, a 25% increase from the previous year.
Related: European Blockchain Sandbox Expands with 41 Regulators to Boost Innovation
Earlier this week, Stripe’s valuation surged to $70 billion (€64.2 billion) after Sequioa Capital, one of Silicon Valley’s largest venture capital investors, agreed to purchase up to $861 million (€790 million) in private shares from other investors.
Michael has been a vital voice in crypto security, focusing on blockchain vulnerabilities and emerging technologies. With a background in cybersecurity and fintech, he ensures our readers stay informed on safeguarding their assets while exploring new opportunities in the crypto space.
