Stripe Enables Cryptocurrency Purchases in the EU

Payment service Stripe has introduced the option for EU residents to purchase cryptocurrencies using credit and debit cards, as reported by the Irish Independent.

The decision by the company, founded by brothers Patrick and John Collison, aims to “simplify ordinary transactions with digital assets.”

According to the publication, online merchants using Stripe’s technology can add widgets to their sites for cryptocurrency purchases, featuring functionality for payment management, dispute resolution, KYC compliance, and more.

“Now, merchants relying on Stripe’s solutions for optimizing conversions, identity verification, and fraud prevention can reach a more global audience. This allows them to focus on growing their business and assisting customers,” noted John Egan, head of the company’s cryptocurrency division.

In 2018, Stripe abandoned digital assets, citing Bitcoin’s high volatility.

At the end of 2019, the company exited Facebook’s Diem project.

In 2021, John Collison described himself and his firm as “enthusiastic fans of Bitcoin.”

In April, Stripe announced support for transactions in the stablecoin USDC.