Crypto exchange Bitstamp has partnered with Stripe to launch its crypto on-ramp solution in Europe.
The partnership will simplify the process of buying crypto with fiat currencies, like the euro and US dollar, for European consumers.
In June, Stripe announced the partnership with Coinbase, adding $USDC payments on Base.
Bitstamp has partnered with the fintech platform Stripe to make crypto payments more accessible in Europe. Let’s see how the collaboration will benefit European users.
Stripe’s On-Ramp Technology
Launched in May 2023, Stripe’s fiat-to-crypto on-ramp technology allows users to buy crypto with a card, Apple Pay, or bank transfer. In July, Stripe expanded its fiat-to-crypto on-ramp to the European market.
Stripe offers two implementation options for its onramp feature: an embeddable widget and a Stripe-hosted checkout via a link.
On August 7, Bitstamp teamed with Stripe to streamline crypto purchases on the exchange. Bitstamp and Stripe will now handle the complexities behind the scenes, offering European users a smooth on-ramp experience.
We’re excited to partner with @Stripe to support their fiat-to-crypto onramp across the EU!
This provides users with a seamless checkout experience optimized for cryptocurrency conversion and allows near instant settlement of cryptocurrency transactions.
Bitstamp will handle… pic.twitter.com/sRUPguVuqb
— Bitstamp (@Bitstamp) August 7, 2024
The Rise of EU’s Crypto Market
All eligible for delivery of crypto instantly, post-KYCStripe
Stripe and Bitstamp’s collaboration comes ahead of the EU’s MiCA regulations taking effect. As a credible fintech platform, Stripe complies with regulatory requirements like sanctions screening and know your customer (KYC) verifications.
Stripe aims to tackle the ‘cold start problem’ by allowing users to exchange or buy crypto instantly. In June, Stripe partnered with Coinbase to speed up $USDC payments on the Layer-2 network Base.
Wrapping Up
Although the US is pioneering the $BTC and $ETH ETF market, the EU introduced crypto regulation ahead of the US.
The EU’s recent regulatory framework and solid financial infrastructure have made it the world’s biggest crypto trading hub.
According to July’s CoinWire report, Europe takes a leadership position in global cryptocurrency transaction value, accounting for 37.32%.
Bitstamp and Stripe’s partnership streamlines large crypto firm operations, but how will it affect the broader crypto ecosystem? We’ll have to wait and see.
References
Which countries trade crypto the most? (CoinWire)
Learn about the Stripe fiat-to-crypto onramp. (Stripe)
Stripe expands access to its crypto onramp with a new hosted option (Stripe)
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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Source : TechReport