The platform claims to be extending support for crypto businesses as well as investors from over 180 nations to change crypto assets into fiat currencies.
“Our payments platform is designed to increase conversion and reduce fraud streamlined checkout flows, fraud prevention, issuer-level optimisations, and more so that you can focus on building the next big thing. With ‘Connect’, pay out fiat currencies in 45+ countries,” the Stripe website reads.
While Stripe’s ‘Connect’ feature allows users to pay out fiat currencies, its Identity add-on is a verification system to mitigate fraud.
The company had been planning to make inroads into the crypto sector once again after it began accepting Bitcoin payments in 2018, but discontinued the practice briefly.
The company also put in place a special team dedicated to research on the crypto space as well as to explore the “web3” concept – which refers to the decentralised future of the Internet as we know today.
Stripe, founded in 2010, reportedly emerged to be the largest privately-held fintech company in the US with a market valuation of $95 billion (roughly Rs. 7,07,598 crore).
Meanwhile, the crypto sector has been roping in subtle acceptance from the US government.
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