Stripe, the financial services provider, has broadened its cryptocurrency integration in the European market, enabling customers in the region to purchase crypto using credit or debit cards. As per a report dated July 16 in the Irish Independent, individuals within the EU are now able to acquire Bitcoin and various other cryptocurrencies with their credit cards.
According to Stripe, online merchants can integrate a widget on their websites for purchasing cryptocurrencies, which will manage issues involving charges, disputes, and compliance with Know Your Customer (KYC) regulations for online crypto transactions.
John Egan, the head of crypto at Stripe, said the expansion allows crypto companies to help European consumers “buy cryptocurrencies quickly and easily.”
According to the report, the initial target of the move is crypto marketplaces and vendors. This decision comes after Stripe's recent announcement to begin accepting stablecoin payments, where transactions are immediately converted to fiat currencies such as dollars or euros.
Sequoia Capital, a venture capital firm based in Silicon Valley, decided to purchase $861 million worth of private shares from investors of Stripe on July 15. This move increased the company's valuation to $70 billion.
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