Stripes

  • Stripe wants to offer cryptocurrency services in the US, UK and EU.
  • According to the platform, it has signed contracts with FTX, FTX.US, Nifty Gateway and two other companies.
  • There is also an NFT collection called Cube Thingies on Nifty Gateway.

Payment service Stripe has announced a series of cryptocurrency services for businesses. From now on, it should be possible to use the platform to purchase cryptocurrencies and irreplaceable tokens (NFTs). The company's co-founder, John Collison, announced the development yesterday on Twitter.

Stripe now supports cryptocurrency businesses: exchanges, portals, wallets and NFT marketplaces. Not only deposits, but also withdrawals, KYC and identity verification, fraud prevention and more.

Stripe currently limits its cryptocurrency services to the US, UK and EU. Businesses that use these services will be able to accept legal payments using Visa and Mastercard cards, Apple Pay and Google Pay, as well as other popular payment methods.

The services are designed to provide established and start-up cryptocurrency companies with access to the global financial infrastructure. Stripe's website says the services will allow companies to process fiat currency payments through a system with built-in fraud prevention and authorization.

In addition, the company announced that it has partnered with FTX, NFT.US, Nifty Gateway, Just Mining and Blockchain Com. This should make the web3 service available.

This isn't the first time Stripe has delved into cryptocurrencies. The company is offering users the option to pay with Bitcoin (BTC) before shutting down the service in 2018. However, the return to the web3 ecosystem comes as no surprise. In October 2021, a report revealed that Stripe was putting together a team to develop a web3 payment service.

Stripe is launching an NFT project

Stripe's marketplace-specific NFT service will be available in the U.S., U.K., EU and Japan. In the U.S., the company will support NFT payments for both primary and secondary sales. However, the latter is subject to review. In the UK and EU, Stripe will facilitate NFT sales for primary sellers, which are businesses and marketplaces that support primary sales only.

In Japan, the company will promote primary and secondary NFT sales. However, secondary sales are limited to companies or sole proprietors.

As part of the announcement, Stripe also revealed that it has released a collection of NFTs called Cube Thingies. As the name suggests, the most distinctive feature of NFTs is their rectangular shape. The collection, which is available on Nifty Gateway, consists of three versions.

Cube Thingy 1 includes 77 NFTs with a starting price of $484.84. Cube Thingy 2 has 51 NFTs and a base price of $900.69. Cube Thingy 3, on the other hand, consists of 46 parallel hexahedra and has a starting price of $1,500. Stripe plans to donate the proceeds from the sale of these NFTs to the non-profit organization Watsi.