Stripe Partners With Bitstamp to Make Crypto Buying Easier for European Users

As a seasoned researcher with a keen interest in fintech and blockchain technology, I find this collaboration between Stripe and Bitstamp highly intriguing. With my background in digital currencies and understanding of the European market dynamics, it’s clear that this partnership is a strategic move to tap into the growing demand for seamless fiat-to-crypto conversions.

UPDATE (Aug. 7, 09:51 UTC): This article has been updated to reflect that Bitstamp’s partner is indeed Stripe, not Strike as previously stated in an earlier version.

Through a partnership between payments processor Stripe and cryptocurrency exchange Bitstamp, users in the European Union will find it simpler to convert their fiat currency into cryptocurrencies, as declared by both companies on Wednesday. This collaboration aims to facilitate Stripe’s growth within the EU.

Bitstamp is set to assist a financial technology company with handling conversions between fiat currencies and cryptocurrencies, as well as transfers to consumers. This collaboration will broaden the scope of Bitstamp’s service offering, which includes providing a customizable version of its crypto trading services to banks and fintech firms under the name “Bitstamp-as-a-Service.”

On June 6th, the well-known trading company Robinhood (HOOD) announced its intention to acquire Bitstamp in a $200 million deal that uses only cash. This action is aimed at increasing the exchange’s influence beyond the U.S. borders and positioning it to challenge competitors such as Coinbase more effectively.