This week, the global payment system Stripe is officially supporting crypto and NFT businesses! From KYC to payments and fraud prevention, the giant company is all in for a seamless user experience.
In addition, the platform also launched an innovative ID authenticity verification system for crypto and NFT-focused projects.
Surprisingly, this is the company’s second attempt at integrating crypto into its system. Although the group stopped their Bitcoin payment feature in 2018, they’re now more determined than ever to follow through with NFT and crypto integrations.
Stripe welcomes NFTs and crypto payments
Digital payments giant Stripe has finally released its crypto and NFT implementations! In short, the company integrated crypto payments, currency exchange, and digital wallets into the platform. As a result, users can now use Stripe to perform various cryptocurrency-related actions.
In fact, anyone can use the Stripe app and website to pay in crypto. NFT holders can also make transactions within the platform “within seconds for any kind of NFT marketplace,” Stripe says.
The company also launched the Stripe Identity feature. Accordingly, this addition helps users verify the authenticity of ID documents from over 33 countries.
A new toolkit for NFT and crypto projects
Surprisingly, Stripe is now helping users create their own NFT or crypto projects too:
“Our flexible APIs can help you launch your first NFT or crypto project fast while fulfilling regulatory requirements, reducing fraud losses, and keeping sensitive data secure,” the platform says.
Nevertheless, the company focused on optimizing the overall crypto payment system. For example, the company allows users to programmatically send crypto payments globally in the receiver’s local fiat currency.
Overall, Stripe took a huge leap in terms of crypto and NFT supportability. However, this is the second time Stripe is integrating cryptocurrencies into its platform.
Way back in 2014, the company surprisingly enabled Bitcoin payments. Unfortunately, though, cryptocurrencies weren’t as popular as nowadays. Therefore, Stripe removed the feature in 2018 for being “less useful for payments.”
Fast-forward to 2021, the team realized the importance of crypto integration. As a result, the company started investing in a team of engineers specialized in crypto last October.
Starting this month, we can finally enjoy the perks of the Stripe crypto and NFT features. This is without a doubt notable progress in the crypto sphere which further confirms its importance on a global scale.