Regulation
Stripe expands cryptocurrency services in Europe amid ‘progressive’ regulation
Stripe Expands Crypto Services
According to the latest report San Francisco-based financial services provider Stripe has now expanded its cryptocurrency support to Europe, according to The Irish Independent.
This expansion means that users across the European Union can now purchase Bitcoin and Ethereum using their Stripe-linked credit or debit card.
This important initiative by Stripe aims to integrate more seamless cryptocurrency transactions into everyday commerce, aligning with the growing trend of digital currency adoption across the world.
Benefits for EU users
The Irish Independent newspaper reported on the expansion earlier today, noting that the update adds a “widget” that can be installed on online sellers’ websites. The tool helps with purchasing digital currency and helps resolve transaction disputes, fees and KYC lawsuits.
John Egan, head of crypto at Stripe, highlighted the broader implications of this situation. expansionAccording to him, this allows digital currency companies to make the purchase of digital currency more accessible to European consumers, thereby increasing customer engagement and improving customer satisfaction.
Additionally, Egan said the integration allows merchants to leverage Stripe’s conversion optimization tools and support for global identity verification and fraud prevention. According to Egan:
This expansion allows crypto businesses to help European consumers buy crypto quickly and easily. Now, merchants who rely on Stripe for tasks like conversion optimization, identity verification, and fraud prevention can reach a more global audience. This allows them to focus on growing their business and helping their customers.
Regulation and adoption: where is Europe?
Compared to other countries or regions involved in cryptocurrency, Europe has been rather encouraging in regulating this booming sector. With its important MiCA regulation set to come into effect in December, many companies are flocking to the region to continue offering their services.
In addition to Stripe’s latest move, just late last year, notable companies such as Kraken And Robin Hood would have extended their services to this region. This pivot has accomplished in substantial growth in digital currency adoption in Europe.
According to a recent report from CoinWire, Europe, as a region, stands out as the leader in terms of cumulative value of digital currency transactions, recording 37.32% of the global cryptocurrency market.
CoinWire attributes this increase in global digital currency market volume to the region’s “progressive” approach to digital currency regulation. The report notes:
Europe is a hub of innovation and investment in the cryptocurrency space thanks to progressive regulatory frameworks and a tech-savvy population. This significant growth underlines Europe’s growing influence in the global cryptocurrency market, which is driven by a strong financial infrastructure, progressive regulations, and the growing adoption of digital assets.
Featured image created with DALL-E, chart by TradingView