Luxembourg-based Bitstamp, currently in the process of being acquired by Robinhood, has struck a deal with the payments firm Stripe to expand its European business.
Bitstamp will “support Stripe’s fiat-to-crypto onramp across the EU,” the company on 7 August 2024. “Bitstamp will manage the fiat currency to cryptocurrency conversion and transfers to consumers,” as part of its white labelled “Bitstamp-as-a-service” offering for financial firms.
The “Stripe onramp is a customisable widget that developers can embed directly into their app or website, providing users with a seamless checkout experience optimised for cryptocurrency conversion, and allowing instant settlement of crypto transactions.”
In its press release, , global CEO of Bitstamp, called Stripe “one of the biggest and most trusted players in the payments space” and said being selected as a partner was “a testament to our own record for safety, reliability and security.”
Bitstamp was founded in 2011 and calls itself “the world’s longest-standing cryptocurrency exchange.” It had 4m customers worldwide and 24 hour spot trading volume of $357m, the data site Coinmarketcap on Wednesday morning. Bitstamp announced its sale to the US investment and trading platform Robinhood . The transaction is expected to close in first half of 2025.
Stripe, also founded in 2011, is a global merchant payments firm based in San Francisco. “Stripe passed the milestone of $1trn in total payment volume in 2023, up 25% from the prior year,” it in its annual user letter in March 2024.
