Stripe is supporting crypto, again

The company's decision backtracks on a previous one made in 2018 to stop supporting bitcoin.
Written by Aimee Chanthadavong, Contributor
Image: Shutterstock

Payment giant Stripe is back in the cryptocurrency business with the launch of a suite of products to support crypto payments on its platform.

"Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT marketplaces. Not just pay-ins but payouts, KYC (Know Your Customer) and identity verification, fraud prevention, and lots more," Stripe co-founder John Collison announced on Twitter.

Stripe's support page also notes that users will be able to buy more than 135-plus cryptocurrencies with fiat currencies in 180 countries.

The launch backtracks on the company's decision in 2018 to dump its support for bitcoin payments. At the time, the company cited the currency's volatility, slow transaction times, and ever-increasing processing fees for its decision to stop support.

Elsewhere, Visa has completed the acquisition of open-banking platform Tink.

According to Visa, the acquisition will see the card payments giant leverage Tink's APIs technology to help customers adopt open banking. Tink currently integrates with more than 3,400 banks and financial institutions.

"Businesses large and small will also have access to a greater and more customized range of tools to operate digitally and securely, whether initiating payments, reconciling bank statements and accounts or enabling alternative financing," Visa added.

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