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U.S.-based fintech giant Stripe has significantly ramped up its crypto initiatives after it launched a service that enables payments for NFTs and digital assets via fiat currency.
Businesses can use Stripe’s new application programming interfaces (APIs) to accept fiat payments for crypto, provide digital wallets, payout users in fiat, leverage identity and know-your-customer (KYC) solutions, and utilize data to detect and block fraudulent transactions.
Stripe co-founder John Collinson shared an announcement via Twitter on March 11, and the firm also partnered with FTX, FTX US, Blockchain.com, Nifty Gateway, and Just Mining to launch the crypto business suite.
Stripe now supports crypto businesses: trades, railings, wallets, and nft markets. Not only payments, but also payments, knowledge and identification, fraud prevention, and much more. https://t.co/3X173SkdPd
— John Collison (@collision) March 10, 2022
Speaking on the partnership, FTX’s head of strategy Tristan Yver emphasized that the deal will help the firm attract a broader mainstream audience by making it simpler for users to purchase crypto assets:
“The optimizations we made in our payments setup with Stripe deliver the smooth on-ramp experience FTX’s growing customer base demands. I mean, the partnership, FTX’s head of strategy Tristan Yver emphasized that the deal will help the firm attract a broader mainstream audience by making it simpler for users to purchase crypto assets: “The optimizations we made in our payments setup with Stripe deliver the smooth on-ramp experience FTX’s growing customer base demands.
We are able to leverage income by making it easier than ever for people to invest in cryptography." NFT costs between $242.42 and $424.24 each for mint, with all proceeds going to the not-for-profit health care technology organization watsi.
Stripe now supports NFT sales – and we're doing a drop of our own today!
An open edition NFT drop presented by @stripe and @niftygateway.
All proceeds benefit healthcare nonprofit @watsi.
6:30–8:30 PM ET: https://t.co/Js0qCYQ4KN. pic.twitter.com/iUM6zGj01C
— edwin (@edwinwee) March 10, 2022
6:30 p.m. - 8:30 p.m. ET: https://t. co/Js0qCYQ4KN. pic.twitter.com/iUM6zGj01C — edwin (@edwinwee) March 10, 2022.
Related: $40K Bitcoin price is in reach, but analysts warn that a sweep of recent lows is likely
Related: $40K Bitcoin price is within reach. Cointelegraph reported in October that Stripe was building a team to enable crypto payments for its users.
