Major cryptocurrency exchange Bitstamp is collaborating with the fintech platform Stripe to make cryptocurrencies like Bitcoin more accessible in Europe.
Bitstamp officially announced on Aug. 7 that it has partnered with Stripe to allow consumers across the European Union to purchase crypto via Stripe’s fiat-to-crypto on-ramp.
“This provides users with a seamless checkout experience optimized for cryptocurrency conversion and allows near instant settlement of cryptocurrency transactions,” Bitstamp noted in an announcement on X.
What is Stripe on-ramp?
Officially launched in May 2023, Stripe’s fiat-to-crypto on-ramp is designed to enable cryptocurrency transactions for individuals who don’t have crypto in their wallets to carry out any activity in crypto.
The platform aims to tackle the “cold start problem” by allowing customers to purchase crypto at the precise moment they need it, as well as exchange it to other assets.
Stripe offers two implementations for its onramp solution. The first is an embeddable on-ramp, which allows developers to insert a crypto-purchasing widget directly into their website or app with just a few lines of code. The second is a Stripe-hosted onramp at Crypto.link.com, to which companies can direct their customers without the need to interact with the code.
Bitstamp will provide conversions for BTC, ETH, SOL, XLM and USDC
In the new collaboration with Stripe, Bitstamp will manage fiat currency conversions to cryptocurrency and transfers to consumers.
The partnership further expands Bitstamp-as-a-service, an on-demand crypto solution that aims to provide back-end infrastructure built with Bitstamp exchange.
Stripe’s crypto on-ramp supports various cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Solana (SOL), Stellar (XLM) and the USDC (USDC) stablecoin.
Stripe complies with regulatory requirements such as Know Your Customer (KYC) verifications and sanctions screening. “All eligible for delivery of crypto instantly, post-KYC,” Stripe’s on-ramp documentation notes.
Stripe’s on-ramp solution allows consumers to pay with credit and debit cards and tools like Apple Pay. It is available in EU countries and the United States, excluding Hawaii.
Related: Robinhood Crypto is now available in Hawaii and select US territories
Cointelegraph approached Bitstamp for a comment regarding the collaboration with Stripe but did not receive a response at the time of publication.
The news comes a few months after the US stock trading app Robinhood announced a $200 million acquisition of Bitstamp on June 6. Subject to regulatory approval, the transaction is expected to be finalized in the first half of 2025.
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