Cryptocurrency exchange Bitstamp has partnered with Stripe to enable the fintech to bolster its fiat-to-crypto offerings across Europe.
The collaboration between the two parties see’s Bitstamp manage the fiat-to-crypto customer conversions and transfers, an expansion of the crypto exchange’s Bitstamp-as-a-Service method.
The Stripe crypto onramp supports various cryptocurrencies, such as Bitcoin, Ethereum, Solana, USDC and more. The partnership is viewed by Stripe as a coming together of “two of the most trusted and reliable fintech brands in the world”.
By leveraging one another’s platforms, Stripe and Bitstamp are ultimately seeking to make crypto payments more seamless and mitigate any preconceived fears over fiat-to-crypto transactions.
John Egan, Head of Stripe Crypto, said: “Bitstamp’s long-standing reputation as a trusted partner made them an easy choice for us when considering how best to serve the needs of our users and their customers in the EU.”
Stripe onramp is a customisable widget that developers can embed directly into their app or website, providing users with a seamless checkout experience optimised for cryptocurrency conversion.
The service allows for near instant settlement of cryptocurrency transactions that can be integrated directly into their products. Stripe and Bitstamp will handle the underlying complexity of the integration process.
Being the oldest crypto exchange in the market after launching in 2011, Bitstamp has been recently active in pushing a regulatory-compliant front.
The exchange received a licence by the Financial Conduct Authority to operate in the UK last year, as well as being compliant with new Markets in Crypto Assets restrictive rules by delisting Tether’s EURT stablecoin this year.
Jean-Baptiste Graftieaux, Global CEO of Bitstamp, commented on the Stripe agreement, stating: “We’re immensely proud to have been chosen to partner with Stripe – one of the biggest and most trusted players in the payments space. It’s a testament to our own record for safety, reliability, and security.”