Stripe, a major payment service company, starts supporting cryptocurrency exchanges, wallets, NFT marketplaces, etc.

Stripe , a major online payment service, announced on March 10, 2022 that it is compatible with cryptocurrency businesses such as cryptocurrency exchanges, wallet providers, and NFT marketplaces. FTX , a major cryptocurrency exchange, has already announced that it has partnered with Stripe, and it is now possible to pay by debit card or clearing house (ACH) via Stripe.

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Stripe Newsroom: FTX & FTX US switch to Stripe for payments and identity verification

Stripe launches payments support for crypto businesses, partners with FTX

Stripe, an online payment service that processes e-commerce on the scale of several tens of trillion yen annually, has supported Bitcoin as a payment method since 2014, but stopped supporting it in 2018. Stripe cites this as a result of the speculative popularity of Bitcoin, which has led to more price volatility, increased transaction fees and transaction confirmation times.

However, in November 2021, it turned out that Stripe is recruiting cryptocurrency engineers on LinkedIn, a business-specific SNS. Guillaume Poncin, Head of Engineering and Cryptocurrencies at Stripe, also said on Twitter, 'We have launched a new cryptocurrency engineering team at Stripe,' and released cryptocurrency-related job information. It was reported that Stripe might re-enter the crypto-related business.

Will Stripe, a major payment service company, resume support for cryptocurrency payments? --GIGAZINE

And on March 10, 2022, Stripe announced that it was compatible with cryptocurrency businesses such as cryptocurrency exchanges, cryptocurrency wallets, and NFT marketplaces. According to the explanation on the official website, through Stripe Connect , a payment API provided by Stripe, it will be possible to use functions such as optimization of payment flow and fraud prevention on virtual currency exchanges.

You can also use

Stripe Treasury , an API for internet banking, and Stripe Issuing , an API for creating business-friendly cards, to build wallets and decentralized finance (DeFi) products that make it easy to manage cryptocurrencies. Possible.

User identification capabilities through Stripe Identity are said to help scale businesses such as NFT marketplaces.

At the same time as this announcement, it was announced that FTX, a major cryptocurrency exchange, and FTX US, an American business, will use Stripe's services for payment and identity verification. In an official statement announcing the partnership with FTX, Stripe also said, 'FTX and FTX US (an FTX affiliate regulated by US authorities) are a seamless support system for users participating in the exchange. We chose Stripe to build an identity verification flow and enhance the payment method for users to add funds to their FTX account. '

FTX said its partnership with Stripe has allowed users to pay seamlessly from their bank accounts using debit cards and ACHs, and has begun using a system called

Stripe Radar to reduce the risk of fraud. doing. Stripe Radar is fully integrated with other Stripe services, using signals such as customer details and billing information to help machine learning models distinguish between fraudsters and legitimate customers.

This time, it took FTX to switch the payment and identity verification mechanism to Stripe in just a few days. 'We want FTX to become a trusted mainstream brand. The Stripe we partnered with expects consumers to have a non-intuitive cryptocurrency experience,' said Tristan Yver, FTX's chief strategy officer. Helped me convert to more than that. '

The regions and availability that support the cryptocurrency business are supplemented on the following pages.

Crypto supportability and availability by region: Stripe: Help & Support

At the time of writing the article, there are 'US (US)' and 'UK + EU (UK + EU)' in the 'Payments' item, but there is no description of 'JP'.

On the other hand, in the item of 'NFT Sales (NFT sales)', 'JP (Japan)' is described in addition to 'US' and 'UK + EU', and it is said that businesses selling NFT can introduce Stripe in Japan as well. am.

in Web Service, Posted by log1h_ik