Payments giant Stripe now supports crypto businesses
Financial payment platform Stripe is relaunching its services for crypto, offering businesses the ability to make NFT and cryptocurrency transactions. The software developer is partnering with FTX, Blockchain.com, Nifty Gateway and Just Mining to reinvigorate their its business infrastructure, which was previously shut down in 2018.
The company’s co-founder, John Collinson, made the announcement over Twitter on Thursday and shared some of the ways the platform aims to support Web3 companies with its crypto application programming interfaces (APIs). The ‘on-ramp’ features, as Collinson explained will enable both fiat withdrawals and deposits for crypto exchanges.
Businesses can use these APIs to accept fiat payments for crypto, provide digital wallets, payout users in fiat, leverage identity and know-your-customer solutions, and manage data to detect and block fraudulent activity.
Speaking on the partnership, head of strategy for FTX, Tristan Yver, said in the formal announcement: “The optimizations we made in our payments setup with Stripe deliver the smooth on-ramp experience FTX’s growing customer base demands. We’re able to multiply revenue by making it easier than ever for people to invest in crypto.”
In addition to the launch, Strip released an open drop of NFTs titled “Cube Thingies” in collaboration with Nifty Gateway. The tokens cost between $242.42 and $424.24 each to mint, with all proceeds being donated to non-profit healthcare organisation, Watsi.