Global payment processor Stripe has broadened its crypto integration to the European market, enabling customers to purchase Bitcoin and other crypto assets using their cards.
As reported by the Irish Independent today, customers within the European Union can now use their Stripe cards to buy a range of cryptocurrencies, including Bitcoin, Ethereum, and Solana.
Stripe Supporting Bitcoin and Crypto Purchase for EU Merchants
Furthermore, the report noted that Stripe now allows online merchants to integrate a crypto-purchasing widget onto their websites. This will streamline the process by handling charges, disputes, and KYC requirements.
Moreover, the Irish Independent cited Stripe’s head of crypto, John Egan, who emphasized that this expansion enables crypto companies to provide European consumers with a fast and easy way to purchase Bitcoin.
Egan explained that merchants can now tap into a broader global audience by leveraging Stripe’s onramp, which includes features like identity verification and fraud prevention. This allows them to focus on driving business growth and delivering exceptional customer experiences.
Notably, the expansion is initially targeted at vendors and crypto marketplaces. It builds on Stripe’s new support of stablecoin payments for conversion and transaction settlements.
Coinbase and Stripe joined forces in June to bring faster financial infrastructure to millions of businesses globally through the Base network. The partnership enabled Stripe to offer more affordable money transfers to over 150 countries using stablecoin USDC on Base.
Notably, Stripe boasts a vast customer base of major e-commerce companies worldwide. In its latest financial report, the company reported processing over $1 trillion in payment transactions in 2023. The figure marked a 25% increase from the previous year.
Yesterday, Stripe’s valuation reportedly surged to $70 billion after Sequoia Capital, one of Silicon Valley’s most prominent venture capital investors, consented to acquire $861 million in private shares from other investors.
Stripe’s Well-timed Crypto Expansion to Europe
Stripe’s latest crypto expansion to the European market comes amid the region emerging as a global leader in crypto adoption and growth. According to a recent report by CoinWire, Europe dominates the global crypto market, accounting for 37.32% of global transaction value.
The report predicts that Europe’s crypto trading volume will soar 270% to reach $40.5 trillion this year, compared to $15 trillion in 2022. Interestingly, the EU also recently implemented the first phase of its MiCA regulation, focusing on stablecoins.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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