Stripe has rolled out a new feature for its European users. Now, people in the EU can buy cryptocurrencies using their Stripe-issued credit or debit cards.
According to a press announcement, the new feature is set to simplify the process for many users who have been waiting for an easy way to get into crypto.
Stripe said that online vendors can add a “widget” to their websites for crypto-purchasing. This tool will manage everything from charges and disputes to Know Your Customer (KYC) requirements.
John Egan, the head of crypto at Stripe, emphasized the ease this brings to the market, saying it allows people to “buy cryptocurrencies quickly and easily.” Egan added:
“Now, merchants who rely on Stripe’s onramp for things like conversion optimization, identity verification, and fraud prevention can reach a more global audience. This lets them focus on growing their business and helping their customers.”
Meanwhile, yesterday, Silicon Valley venture capital firm Sequoia Capital acquired $861 million in private shares from Stripe investors, boosting the company’s valuation to $70 billion.
Stripe operates out of San Francisco and Dublin, which is a part of the European Commission. Europe leads the global market in crypto transaction value, accounting for 37.32%.
The region is proactive in creating and enforcing regulations for the crypto industry. Its Markets in Crypto-Assets Regulations (MiCA) plans to help lawmakers understand blockchain better and provide clear guidelines for traders and exchanges.
The first set of regulations, focusing on stablecoins, took effect on June 30, with more expected in December 2024. USDC issuer Circle has already acquired licensing under the rules.
