Stripe, a financial services business, is re-entering the crypto realm. Stripe has launched its crypto services today, allowing businesses to use the platform as a payment method for crypto and NFT transactions. Stripe provides Web3 companies with payout services, as well as know-your-customer (KYC) and fraud prevention.
John Collison announced the news on Twitter on Thursday, detailing the various ways the business aims to help Web3 companies through its crypto APIs—the interfaces that companies use to connect to Stripe’s platform.
Stripe’s crypto services are currently only offered to businesses in the United States, the United Kingdom, and the European Union
These regions, as well as Japan, are serviced through its NFT marketplace services.
Stripe announced partnerships with FTX, FTX U.S., Nifty Gateway, Just Mining, and Blockchain.com to support its Web3 services. As part of today’s announcement, it also created its own NFT line called Cube Thingies, with sales going to the Watsi healthcare foundation. NFTs are one-of-a-kind blockchain-based tokens that can be used to represent ownership of digital assets like art.
Stripe’s services that allowed consumers to pay with Bitcoin were discontinued in 2018. (Strike, a corporation with a similar name, eventually stepped in to fill that need). Stripe’s comeback to crypto comes five months after it revealed in October last year that it was hiring a team to create Web3 payment systems.
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