BZ Bites: Stripe Validates New Crypto Offer Via FTX Partnership

Stripe announced Thursday the launch of its crypto services.

The development comes as the company follows through on earlier web3 visions. Last year, Stripe created a team dedicated to Web3 payments, as reported by The Block.

Through this development, businesses will now have the ability to use Stripe payments methods for cryptocurrency and NFT transactions. Additionally, Stripe’s crypto toolkit will help businesses overhaul their onboarding, verification, KYC, and more.

As a validation, FTX announced it would enhance fraud risk detection and onboarding, as well as build a new fiat-to-crypto on-ramp using Stripe.

Commenting on the news, Will Gaybrick, chief product officer at Stripe, said: “Stripe is working with many of the most exciting projects in Web3 and supporting the world’s leading crypto brands. FTX is a great example of this.”