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Payments Giant Stripe Launched Crypto Business Support

There are all kinds of exciting moves that are taking place in the crypto space.

Payment processing firm Stripe is now offering tools and services to crypto-focused businesses.

In a new use-case announcement, Stripe explained it’s making a wide suite of solutions available to the crypto industry, including accepting fiat currencies, identity verification, and protection against fraud.

Stripe co-founder and CEO John Collison took to Twitter to share some of the new features available to businesses.

“Stripe now supports crypto businesses: exchanges, on-ramps, wallets, and NFT [non-fungible token] marketplaces. Not just pay-ins but payouts, KYC [know your customer] and identity verification, fraud prevention, and lots more.”

Among the biggest firms to sign on with Stripe is popular crypto exchange platform FTX. It’s also important to note the fact that the averages around $14 billion worth of transactions per day.

FTX’s head of strategy Tristan Yver made sure to say this of the new alliance:

“We want FTX to become a trusted mainstream brand. We’ve partnered with Stripe to help us transform what could be unintuitive crypto experiences into ones that exceed consumer expectations.”

New crypto regulation is on the way

It’s been just revealed that the situation involving Russia and Ukraine has been all over the media for the past few days. There are economic consequences and not only. The crypto market is also affected by the geopolitical scenario.

Now, the tensions between the United States and Russia spread across numerous sectors, and meanwhile, Senator Elizabeth Warren is looking to crack down on potential crypto loopholes.

According to an NBC News report, the senator is drafting legislation to bolster sanctions the US imposed after Russia first invaded Ukraine two weeks ago.

It’s important to note the fact that Warren recently co-signed a letter with fellow Democrat Senators Mark Warner (VA), Sherrod Brown (OH), and Jack Reed (RI) that expresses concerns about the following:

“individuals and entities being able to circumvent sanctions by utilizing digital assets.”

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