Stripe is partnering with FTX and Blockchain.com to return to the crypto industry

After stopping accepting bitcoin payments, Stripe makes a comeback in the crypto industry with its new crypto trading infrastructure. In 2018, Stripe said Bitcoin had become “less useful for payments,” citing block size limits, long confirmation times and higher fees.

Source: Adobe

Stripe appears to have reversed its position and reached an agreement with two giants in the crypto sector, FTX and Blockchain.com, for creating payment processing software for Bitcoin and cryptocurrencies. This new service is not limited to payment transactions, but also includes payment integration with exchanges, scaling methods for identity verification, currency conversion deposits and streamlined automations.

On March 10, their updated 2018 post explained that:

“Since the first publication of this blog post over four years ago, we have discovered that our optimism for the future of crypto is not unfounded. From new developments in blockchain infrastructure to the widespread interest from large financial institutions, crypto is become mainstream. “

Stripe offers a wide range of products and services that can be used in the crypto sector. The service Stripe Connect for example, allows customers to use from crypto exchanges and also offers the option to deposit money in over 45 fiat currency variations.

another service, Stripe Treasuryenables companies to create wallets and consumers to earn returns based on decentralized financial applications that allow users to manage cash, pay bills and more.

Issuance of stripes allows companies to create virtual and physical maps that can be programmed to work only with specific vendors and hold a limited amount of funds.

Stripe Identify enables companies to authenticate identity documents through an API that makes user verification easier for companies without imposing a heavy burden on users who do not attempt to commit fraudulent transactions. The company claims that its users can quickly scale their marketplaces and built-in buyers and sellers in seconds for any type of platform, such as those reserved for NFTs.

For its part, the strategic leader of FTX, Tristan Yverhave emphasize that the agreement will help the company attract a wider audience by simplifying the process for users to purchase cryptocurrencies:

“The optimizations we’ve made to our payment setup with Stripe provide the smooth onboarding experience that FTX’s growing customer base requires. We’re able to multiply revenue by making it easier than ever for people to invest in crypto.”

The availability of Stripe’s crypto functionality for space companies varies by region and application, noted support page, and “depending on how your business is set up,” the business may “require additional information before you can begin processing payments with Stripe.”

The services are currently available in the US, UK and EU, while some NFT sales are also available in Japan.

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