As part of its strategic expansion, Stripe, a financial services and software company running Variety at scale with a suite of payment processing solutions for businesses of all sizes, has partnered with one of the world’s longest-running cryptocurrency exchanges, Bitstamp, headquartered in Luxembourg, to simplify crypto transactions across the European Union.
The alliance, announced on August 7, 2024, strives to drive seamless and convenient fiat-to-crypto conversions for users across Europe, marking a major stride in the growth of digital currency adoption in the region.
It allows developers to integrate crypto purchasing capabilities directly into their apps or websites with the creation of a customizable on-ramp widget.
The tool supports many cryptocurrencies, including Bitcoin, Ethereum, Solana, Stellar, and USD Coin. By implementing this widget, businesses can offer instant settlement for transactions to the end customer, thus bettering user experience.
Bitstamp's Role in the Partnership
Bitstamp is going to be responsible for the fiat-to-crypto conversions and consumer transfers. The partnership is an extension of Bitstamp’s white-label service, Bitstamp, which provides crypto trading infrastructure to banks and FinTech companies.
Jean-Baptiste Graftieaux, Global CEO of Bitstamp, highlighted that Bitstamp brings trust and reliability into this collaboration for a robust solution in the EU market.
This partnership further underlines the commitment of the two companies to improving crypto accessibility within the European Union.
By making fiat-to-crypto easier, Stripe and Bitstamp will drive their way to the top as main character players in the digital payments ecosystem. Although it is not yet offered in the U.K., this prioritization of the European Union market aligns with the strategic objectives of Stripe.
Key Benefits of the Alliance.
The collaboration of Stripe with Bitstamp is a signal that cryptocurrency is being slowly merged into the fiat scale of world finance. As more and more businesses incorporate crypto solutions, demand will only continue for seamless and secure ways to make transactions.
Furthermore, this partnership like several coming up in the digital finance world, does not only benefit the developers and consumers but also sets examples for further fintech and crypto collaborations in the near future.
Stripe and Bitstamp are working to ensure that the crypto market in Europe is more unified and easier to use. The move will likely accelerate digital currency adoption rates and hence, increase their wide availability in Europe.
