Financial service provider Stripe has introduced crypto payments to its European EU user base.
So, European customers can purchase items with cryptocurrency using their credit or debit cards.
A July 16 report from the Irish Independent reveals that shoppers in the EU can buy items with Bitcoin, Ether, and other cryptocurrencies.
Notably, these customers can process their payments using their Stripe-issued cards.
Also, Stripe revealed that online vendors can add a widget for fast crypto purchases on their website.
Stripe Integrates EU Crypto Purchases
Stripe revealed that the new widget will also handle matters like disputes, charges, and Know Your Customer (KYC) procedures.
Also, the Head of crypto at Stripe, John Egan, noted that the expansion enables crypto companies to help European customers purchase crypto quickly.
Additionally, Stripe supports stablecoin payments, giving users more options and enhancing financial technology.
The report revealed that the Stripe update will support crypto marketplaces and vendors.
Notably, Silicon Valley Firm Sequoia Capital agreed to purchase $861 million worth of private shares from Stripe investors.
Consequently, Stripe’s valuation rose to $70 billion, which led to much-needed upgrades and reforms.
Stripe has its operational headquarters in San Francisco, USA, and offices in Dublin and Ireland.
Dublin is an EU member with a high rate of crypto ownership.
EU Regulations Help Crypto Adoption in the Region
Notably, Europe leads the crypto market in terms of global crypto transaction value at 37.32%.
Also, the region offers some regulatory clarity for cryptocurrencies.
These regulations guide lawmakers in understanding financial technology, providing traders and exchanges with solid guidelines.
Consequently, blockchain infrastructural firm ChromaWay has confirmed the renewal of its partnership with the European Union.
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ChromaWay focuses on improving the organization of on-chain data.
Ultimately, the goal is to encourage collaboration between governments, institutions, regulators, and blockchain innovations.
These collaborations will unlock the full potential of Web3 technology and increase blockchain adoption in Europe.
This partnership also aligns with the EU’s goal of driving technological advancements that promote economic and environmental benefits in Europe.
Notably, the EU has partnered with other Web3 solutions, such as Iota, to identify solutions in the European Blockchain Sandbox Initiative (EBSI).
So, the EU continues to promote crypto adoption while providing regulatory clarity that protects crypto users in the region.