Stripe provides an API infrastructure for web developers to use websites in an integrated way in payment systems in their applications, allowing businesses to receive payments over the internet.

Payments giant Stripe is starting to support cryptocurrencies and NFTs, while crypto exchange FTX and its US arm have signed up with Stripe for payments and know-your-customer (KYC) services.

John Collison, co-founder of Stripe, said:

   “Stripe now supports crypto businesses: exchanges, trading platforms and NFT marketplaces. Not just payments, KYC and authentication, fraud prevention and much more.”

stripe payment

According to the crypto page on the company's website, Stripe has decided to offer a number of products that allow it to be used by businesses as a payment method for crypto and NFT transactions, as well as an entryway for Web3 users. It is said that its users can evaluate marketplaces and buyers and sellers for any kind of NFT marketplace in seconds and verify the authenticity of identity documents from more than 33 countries.

The company noted that if they wish, businesses can realize the rapid launch of their first NFT or crypto projects, as well as stablecoin payments. They also offer a fiat payment application programming interface (API), which the payment platform claims is "designed to increase conversion and reduce fraud at every step of the payment flow."

stripe crypto

Users in more than 180 countries are allowed to deposit with "dozens" of local payment methods and in more than 135 currencies, according to the website. On its support page, it says that Stripe's crypto capability for businesses varies by region and use case, and depends on the layout of the business, and that the company may request additional information before starting to make payments with Stripe. Services are currently available in the US, UK and Europe, with select NFT sales available in Japan.

The company quoted the following statements of FTX USA President Brett Harrison:

   “We recently reviewed our user opt-in process and partnered with Stripe to bring the automated authentication system to FTX. We are seeing massively increased KYC processing speed, higher auto-approval rates and a smoother user experience for our customers.”

Other companies listed on the website are Blockchain.com, Nifty Gateway, and Just Mining.