According to the latest report from The Irish Independent, San Francisco-based financial services provider Stripe has now broadened its cryptocurrency support to Europe.
The expansion means users across the European Union can now buy Bitcoin and Ethereum using their credit or debit card linked with Stripe.
This significant move by Stripe aims to integrate more fluid cryptocurrency transactions into everyday commerce, aligning with the growing trend of digital currency adoption across the globe.
Benefits For EU Users
The Irish Independent reported this expansion earlier today, noting that this update adds a “widget” that can be installed on online sellers’ websites. This tool assists in buying digital currency and helps with transaction disputes, charges, and suits for KYC.
John Egan, the head of crypto at Stripe, highlighted the broader implications of this expansion. According to him, this allows digital currency companies to make buying digital currency for European consumers more accessible, thereby increasing client engagement and improving client satisfaction.
In addition, Egan said that this integration enables merchants to take advantage of Stripe’s conversion optimization tools and identity verification and fraud prevention support with an eye toward the global scale. In Egan’s words:
This expansion allows crypto companies to help European consumers buy cryptocurrencies 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 lets them focus on growing their business and helping their customers.
Regulation And Adoption: Where Does Europe Stand?
Compared to other countries or regions involved in crypto, Europe has been quite encouraging in regulating this burgeoning sector. With its prominent MiCA regulation set to take effect in December, many firms have been flocking to the region to continue their services.
Aside from Stripe’s latest move, late last year alone, notable firms such as Kraken and Robinhood were reported to have expanded their services to this region. This pivot has resulted in substantial growth in the adoption of digital currency in Europe.
According to a recent report from CoinWire, Europe, as a region, stands out as the leader in cumulative digital currency transaction value, recording 37.32% of the global crypto market.
CoinWire attributed this global digital currency market volume surge to the region’s “progressive” approach towards digital currency regulation. The report noted:
Europe is a hub for crypto innovation and investment due to progressive regulatory frameworks and a tech-savvy populace. This significant growth emphasizes Europe’s growing influence in the global crypto market, which is due to a strong financial infrastructure, progressive regulations, and rising adoption of digital assets.
Featured image created with DALL-E, Chart from TradingView