An integration of Crypto.com with Stripe will enable businesses to more easily accept crypto payments through Crypto.com Pay and will enable their customers to pay with their preferred cryptocurrency, Crypto.com said in a Tuesday (Jan. 6) press release.
With the integration, Stripe converts payments into the local currency selected by the business, enabling businesses to deposit the currency into their bank account just like any other payment, according to the release.
“Increasing everyday accessibility to and utility of cryptocurrencies for consumers and merchants is central to our vision at Crypto.com,” Joe Anzures, general manager, Americas, and executive vice president of payments at Crypto.com, said in the release. “We are excited to partner with Stripe, a recognized leader in digital payments, to collectively catalyze a new era for crypto-enabled commerce.”
In addition, Crypto.com will now use Stripe for payment acquirer services, which will make it easier for customers to use their credit and debit cards to purchase cryptocurrency, per the release.
Crypto.com said in October that it took another step in its regulatory compliance and customer protection efforts by filing an application for a national trust bank charter with the Office of the Comptroller of the Currency.
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The company said at the time that this move would advance its custody and technology and related offerings, including custody and staking of assets, with services spanning various blockchains and digital asset protocols.
In other recent moves, Crypto.com said it was exploring integrations with e& money, a financial super app designed for citizens and residents of the United Arab Emirates, and that it integrated its digital asset exchange with Lynq’s digital asset settlement network to help institutional clients fund their trading accounts and offramp to the settlement platform with a single click.
Meanwhile, Stripe said in October that it had begun rolling out stablecoin payments for subscriptions to support artificial intelligence companies and other firms with recurring business models. The company said its introduction of stablecoin payments for subscriptions was driven by the growing number of companies that are using stablecoins to facilitate cross-border payments.
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