Global payments giant Stripe announced support for crypto-related companies, including exchanges, wallet providers and NFT marketplaces.
Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT marketplaces. Not just pay-ins but payouts, KYC and identity verification, fraud prevention, and lots more. https://t.co/3X173SkdPd
— John Collison (@collision) March 10, 2022
“Not only payments, but also payouts, KYC and identity verification, fraud prevention and much more,” said Stripe co-founder John Collison.
According to information on the site, the company offers businesses the ability to integrate an API for processing fiat and digital currencies.
FTX and its U.S. subsidiary FTX US entered into a partnership with Stripe to improve efficiency and simplify KYC procedures.
The crypto exchange will deploy Stripe Radar, built on machine-learning models designed to reduce fraud risk. FTX users and its subsidiary will be able to buy cryptocurrencies using debit cards and bank transfers.
In early 2018, Stripe dropped support for Bitcoin due to price volatility and slow transaction confirmations. Later, Stripe president John Collison did not rule out bringing the option back in the future.
Earlier, Stripe announced that it was hiring developers and designers for its cryptocurrency division to build the future of Web3 payments.
ForkLog previously reported that Binance launched the payments company Bifinity.
Subscribe to ForkLog’s channel on YouTube!