Bitstamp Joins Forces with Stripe to Enhance Crypto Purchases in the EU
YEREVAN (CoinChapter.com) — Bitstamp, a cryptocurrency exchange, has partnered with fintech platform Stripe to streamline crypto purchases across Europe. Announced on August 7, this partnership aims to make cryptocurrencies like Bitcoin, Ether, Solana, Stellar Lumen, and USD Coin more accessible to EU consumers. By leveraging Stripe’s fiat-to-crypto on-ramp, Bitstamp offers a smoother checkout experience and near-instant settlement of transactions.
Bitstamp x Stripe Partnership Announcement. Source: Bitstamp.net
“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.
Company’s On-Ramp Simplifies Instant Crypto Transactions
Launched in May 2023, Stripe’s on-ramp is designed for those without crypto in their wallets to engage in crypto transactions. It addresses the “cold start problem” by enabling users to buy crypto exactly when they need it. This feature allows real-time purchases and exchanges, meeting immediate needs.
Stripe offers two implementations of its on-ramp solution. The first is an embeddable on-ramp, which developers can easily insert into their website or app with a few lines of code. The second is a Stripe-hosted on-ramp at Crypto.link.com, allowing companies to direct customers to a separate site without handling the code themselves.
Bitstamp Enhances Crypto Transactions in EU with Stripe Partnership
In this collaboration, the firm converts fiat currencies to cryptocurrencies and manages transfers to consumers. The exchange supports conversions for Bitcoin (BTC), Ether (ETH), Solana (SOL), Stellar Lumen (XLM), and USD Coin (USDC). This setup enhances the efficiency and speed of crypto transactions for EU customers.
Bitstamp’s role in this partnership is part of its service, Bitstamp-as-a-service, which provides on-demand crypto solutions and back-end infrastructure built with the Bitstamp exchange.
Bitstamp and Stripe Collaboration Announcement. Source: BitstamponX Partnership to Expand Crypto Access in the EU
Stripe ensures its on-ramp solution complies with all regulatory requirements, including Know Your Customer (KYC) verifications and sanctions screening. This compliance guarantees that users can receive their crypto instantly after passing KYC checks.
Consumers can use various payment methods such as credit and debit cards, and Apple Pay. Stripe’s on-ramp solution is available in EU countries and the United States, excluding Hawaii.
Stripe Fiat-to-Crypto Onramp Overview. Source: Stripe.com
This partnership follows a significant move by Robinhood, the US stock trading app, which announced its acquisition of Bitstamp for $200 million on June 6. The acquisition, subject to regulatory approval, is expected to be finalized in the first half of 2025.
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