Stripe has rolled out payment support for crypto businesses including a partnership with FTX that also involves helping it with KYC.
Global payments giant Stripe has announced that it now supports crypto businesses including exchanges, wallet providers, and NFT marketplaces, among others.on its website on Thursday, Stripe now offers fiat payments API integration for crypto businesses to process crypto-to-fiat currency payments.
As part of the toolkit for crypto firms, Stripe says it is also offering flexible on-ramps for exchanges. These on-ramps, as co-founderput it on Twitter, will enable both fiat deposits and withdrawals for crypto exchanges. Stripe’s crypto business toolkit also includes protocols for user identification and fraud prevention. Crypto exchange FTX and its US affiliate, FTX.US, haveThe partnership will see Stripe build user onboarding protocols including identity verification processes.
According to an announcement, the partnership will also see Stripe providing payment services for the exchange. Based on the partnership, FTX and FTX users will be able to buy crypto using debit cards and direct bank transfers via Automated Clearing House transactions. Today’s announcement is the first major crypto-related news from the company since it announced the creation of a teamAt the time, the company stated that it was hiring engineers and designers to build the future of Web3 payments.
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