Regulation
Stripe Expands Crypto Services in Europe Amid ‘Progressive’ Regulation
Stripe Expands Crypto Services
According to the latest relationship San Francisco-based financial services provider Stripe has now extended its cryptocurrency support to Europe, the Irish Independent reports.
With this expansion, users across the European Union will now be able to purchase Bitcoin and Ethereum using their Stripe-linked credit or debit card.
This major move by Stripe aims to integrate more seamless cryptocurrency transactions into everyday commerce, in line with the growing trend of digital currency adoption around the world.
Benefits for EU users
The Irish Independent reported on this expansion earlier today, noting that this update adds a “widget” that can be installed on online merchants’ websites. This tool helps with purchasing digital currency and assists with transaction disputes, chargebacks, and KYC lawsuits.
John Egan, head of cryptocurrency at Stripe, highlighted the broader implications of this expansionAccording to him, this allows digital currency companies to make digital currency purchasing more accessible to European consumers, thus increasing customer engagement and improving customer satisfaction.
Additionally, Egan said the integration allows merchants to leverage Stripe’s conversion optimization tools, identity verification, and fraud prevention support, with an eye toward global scale. In Egan’s words:
This expansion allows cryptocurrency businesses to help European consumers buy cryptocurrency quickly and easily. Now, merchants who rely on Stripe’s onramp for things like conversion optimization, identity verification, and fraud prevention can reach a more global audience. This allows them to focus on growing their business and supporting their customers.
Regulation and adoption: where is Europe at?
Compared to other countries or regions involved in cryptocurrency, Europe has been quite encouraging in regulating this growing industry. With its major MiCA regulation set to come into effect in December, many companies have flocked to the region to continue their services.
Aside from Stripe’s latest move, just late last year, well-known companies like The Kraken AND Robin Hood It is reported that they have expanded their services to this region. This pivot has result in a substantial growth in digital currency adoption in Europe.
According to a recent report by CoinWire, Europe, as a region, stands out as a leader in the cumulative value of digital currency transactions, recording 37.32% of the global cryptocurrency market.
CoinWire attributed this increase in global digital currency market volume to the region’s “progressive” approach to digital currency regulation. The report noted:
Europe is a hub for cryptocurrency innovation and investment thanks to progressive regulatory frameworks and a tech-savvy population. This significant growth underscores Europe’s growing influence in the global cryptocurrency market, driven by a strong financial infrastructure, progressive regulations, and growing adoption of digital assets.
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