Stripe announces fiat payment support for cryptocurrencies and NFTs

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,, Nifty Gateway, and Just Mining to launch the crypto business suite.

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. We’re able to multiply revenue by making it easier than ever for people to invest in crypto.”

As part of the move, Stripe also launched an open drop of NFT collectibles dubbed “Cube Thingies” via Nifty Gateway. The NFTs cost between $242.42 and $424.24 each to mint, and all proceeds from the sale will go to non-profit healthcare tech organization Watsi.

Stripe initially rolled out Bitcoin (BTC) support back in 2014 but reversed the decision four years later due to the network’s slow transaction speeds and fees at the time.

Related: $40K Bitcoin price is in reach, but analysts warn that a sweep of recent lows is likely

However, the firm did also state that it would re-enter the sector once crypto payments became more viable, and the firm has been progressively getting back into the crypto sector since late 2021. Cointelegraph reported in October that Stripe was building a team to enable crypto payments for its users.

All Dutch and English crypto news!

Bitcoin price predictions abound as traders focus on the next BTC halving cycle

Terra's recent collapse has been repeatedly singled out as the main source of weakness affecting crypto assets, but it's much more likely that a combination of...

Swiss asset manager Julius Baer eyes crypto and DeFi potential

132-year-old Swiss asset management firm Julius Baer intends to offer exposure to cryptocurrencies and decentralized finance (DeFi) for its high net-worth clients. The firm's CEO Philipp...

Jack Dorsey’s Block hits $1.3B in Q1 profits, $43M in BTC trading revenue

Block, the pro-Bitcoin (BTC) umbrella company that hosts Cash App, Square and Afterpay, continues its growth in 2022. According to its Shareholder letter, in the...

Bitcoin must defend these price levels to avoid ‘much deeper’ fall: Analysis

Bitcoin (BTC) may be attempting to flip $30,000 to support on May 19, but for one group of analysts, attention is focused firmly on a...

Beste exchanges

Koop je crypto bij Bitvavo