Stripe is the company that reinvented payment gateways and completely revolutionized the market. And now they have a new battlefield: cryptocurrencies. Stripe has already flirted with cryptocurrencies in the past, but the commitment now announced by its CEO goes much further. An important step that can revolutionize the cryptocurrency sector and brings users closer to making payment with them much more daily. We explain why.
The star of the fintech sector goes to cryptocurrencies. Stripe’s rise has been meteoric and this company is considered the great star of Silicon Valley in the fintech sector, with a valuation of over 100,000 million dollars. Like Paypal, Stripe is also serious about cryptocurrencies and they have a huge trump card in their favor.
Stripe is a company that allows other companies to create payment gateways. More than 200,000 companies in Europe work with Stripe and their payments, transfers or fund transfers are managed by Stripe.
It’s not just Stripe, but all the companies that work with them. The importance of this movement is precisely the great impact that Stripe has in the management of payments for many companies, from Globo to Under Armour, through services such as Booking, Shopify or DocuSign. The fact that Stripe supports cryptocurrencies opens the door for these services to decide to bet on cryptocurrencies without much problem. It doesn’t mean they’re going to do it, but if Stripe supports it, they who work alongside Stripe might as well.
Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT marketplaces. Not just pay-ins but payouts, KYC and identity verification, fraud prevention, and lots more. https://t.co/3X173SkdPd
— John Collison (@collision) March 10, 2022
From buying cryptocurrencies to exchanges or NFTs. Stripe’s support for the crypto world is very broad. Among the options offered is to exchange cryptocurrencies and fiduciary currencies, in more than 180 countries and 135 currencies. Create a DeFi wallet, create an NFT marketplace with its own tokens and resources and its own APIs to make transfers “reducing losses due to fraud and maintaining the security of confidential data.”
A very capable ally and well seen by regulators. Stripe is one company that has what it takes to help popularize cryptocurrency payments. On the one hand, it offers a very simple and easy-to-use management tool for companies. On the other, we are dealing with a company that is characterized by working with large companies and accustomed to managing multiple regulations and currency exchanges between countries. This experience can be important when the different regulators of each country see their management favorably.
The decentralization of cryptocurrencies has always been considered one of the most relevant features. But one thing is the blockchain-based protocol itself and another is its management and exchange. That is where the States want there to be responsible entities that “control” the flows of movement. And platforms like Stripe’s can be a solution to monitor these tokens and these cryptocurrencies, without losing sight of when they go from one address to another.
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George is Digismak’s reported cum editor with 13 years of experience in Journalism