Stripe crypto purchasing integration expands in European Union

Stripe expanded its crypto purchasing integration in the European Union. Customers in Europe can now use their credit or debit cards to buy cryptocurrencies. Stripe, founded by brothers Patrick and John Collison of Limerick, is focusing on trying to facilitate regular transactions through the use of virtual assets, and this strategic move is part of that effort. 

The EU rollout, which is primarily aimed at cryptocurrency marketplaces and vendors, follows Stripe's recent announcement that it will begin to support "stablecoin" payments, in which transactions settle instantly and automatically convert to "fiat" (non-crypto) currencies like euros or dollars. 
According to Stripe, online merchants can now add a "widget" for cryptocurrency purchases to their websites. Stripe also claims to handle all fees, disputes, and "Know Your Customer" (KYC) obligations related to online cryptocurrency payments. In European surveys on the ownership of cryptocurrencies per capita, Ireland consistently receives high marks. 

According to John Egan, head of crypto at Stripe, this strategic expansion allows companies dealing with cryptocurrencies to help consumers in Europe purchase cryptocurrencies quickly and easily. Now, a wider global audience is available to merchants who depend on Stripe's onramp for services like fraud prevention, identity verification, and conversion optimization. This enables them to concentrate on expanding their business and assisting their customers, the report added. 

Many large e-commerce companies use Stripe, one of the largest online payment companies in the world, with joint headquarters in San Francisco and Dublin. Stripe's valuation increased this week to $70 billion (€64.2 billion) as a result of an agreement by Sequioa Capital, one of Silicon Valley's largest venture capital firms, to buy up to $861 million (€790 million) in private shares from other investors. 
Stripe partnered with Coinbase, a well-known cryptocurrency exchange, to integrate USD Coin (USDC) on Base. Through this integration, transactions across 150 countries could be completed very quickly and affordably. This development has the potential to improve the efficiency of international payment processes by streamlining them, the post added. Furthermore, Stripe will integrate USDC on Base into its fiat-to-crypto onramp, facilitating a faster conversion time for US customers from fiat to cryptocurrency.

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