The Stripe Payment Giant launched support for NFTs and crypto with FTX and FTX US announcing they signed with the company for KYC services as well so let’s find out more in today’s latest cryptocurrency news.
Stripe Payment Giant embraces the world of crypto once again and today the payments giant launched a crypto service and offered businesses the ability to use Stripe as a payment method for using crypto and NFTs. Stripe is offering payout services for Web3 companies as well as KYC and fraud prevention.
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
The company’s co-founder John Collison shared the range of ways stripe can support Web3 companies in its crypto APIs with interfaces that companies can use to connect to Stripe’s platform. Stripe’s crypto services are now only available to businesses in the US and the UK as well as the EU.
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The NFT services for marketplaces are supported in the regions but also Japan so to facilitate the Web3 services, Stripe announced that it has deals in place with FTX exchange, Just mining, Blockchain.com, and Nifty Gateway.
It launched its own NFT collection called Cube Thingies as a part of today’s announcement with the proceeds going to the healthcare nonprofit Watsi. The NFTs are unique blockchain-based tokens whcih can be used to signify ownership for digital assets like art. Back in 2018, Stripe ended the services allowing users to pay in BTC but now it is returning and announcing a new team to develop Web3 payment services.
As recently reported, Digital payments company Stripe names former BoE governor Mike Carney to the board of the company after he stepped down from the regulatory body last year and opened his doors to crypto and central bank innovation with digital currencies. Following the announcement of the Facebook-led Libra initiative and then rebranded to Diem, Mike Carney called for global leaders to study digital replacements for Cash and noted that the US dollar’s hegemony was weakening but he didn’t throw away the idea of private currency replacements. Carney commented during the Economic Policy Symposium in Jackson Hole at Wyoming at that time.
Also, dThe American payment processor Stripe paid $120,000 in order to resolve the allegations that its systems didn’t detect illegal transactions. The Massachusetts Attorney General’s office alleged that the company made payments which are an alleged crypto scam. The initial coin offering allegedly defrauded the customers of $8 million.
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