Whether customers are crypto veterans or new investors, Bitstamp, the global crypto exchange is looking to make the sector more accessible and more seamless. To achieve this, Bitstamp has announced two new partnerships ensuring to cover both TradFi and DeFi bases.
According to research from Triple-A, the digital currency paytech, the number of crypto users globally grew from 420 million in 2022, to 562 million in 2023. This shows a clear jump in crypto’s usage and organisations must respond accordingly. By not catering to the growing surge in cryptocurrency’s popularity, firms are inviting customers to go to their rivals. Therefore, to ensure integrating crypto payments is simple, Bitstamp is partnering with Stripe, the financial infrastructure platform.
Four months ago, Stripe announced it was re-entering the crypto sphere, ending its six-year absence. As it looks to solidify itself in the digital assets ecosystem, this partnership will act as a way of bridging the world of traditional finance with the decentralised ecosystem.
Bitstamp will be supporting Stripe’s fiat-to-crypto onramp across the EU by managing the fiat currency to cryptocurrency conversion and transfers to consumers. This represents an expansion of Bitstamp-as-a-service, further solidifying cryptocurrency’s role as a vital part of the digital payments’ ecosystem.
Stripe onramp is a customisable widget that developers can embed directly into their app or website, providing users with a seamless checkout experience optimised for cryptocurrency conversion, and allowing instant settlement of crypto transactions. Developers of applications can integrate Stripe’s crypto onramp directly into their products with just a few lines of code, while Stripe and Bitstamp handle the underlying complexity.
Stripe’s crypto onramp supports various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Stellar (XLM), and USD Coin (USDC).
Bitstamp making crypto more accessible
Bitstamp isn’t only making crypto more accessible for new merchants and consumers. By partnering with Kryptos, a web3 finance platform, Bitstamp is also ensuring users within the space are benefiting from the latest technologies.
JB Graftieaux, global CEO, Bitstamp
JB Graftieaux, CEO of Bitstamp added: “We’re delighted to work together with Kryptos in a partnership which will grant our customers access to an even greater array of sophisticated financial and analytics tools. The combination of Kryptos’ platform and our security and reliability will be a great benefit to our users, offering them a seamless way to manage their assets and meet their compliance requirements more efficiently.”
The partnership will allow users to link their Bitstamp accounts with the Kryptos platform, thereby unlocking a new realm of financial possibilities within the Web3 ecosystem.
Ensuring better management and compliance
As a result, users gain the ability to manage their digital assets and access a suite of advanced financial tools on Kryptos, combining the strengths of both platforms to enhance user experience and financial management capabilities. Additionally, Bitstamp users will benefit from exclusive discounts on Kryptos’s services. This includes premium features and analytics tools, further enriching their investment and trading strategies.
A key aspect of this partnership is the enhanced ability for users to maintain compliance with their crypto tax obligations amidst growing regulatory scrutiny. The integration provides users with the necessary tools to generate accurate tax reports and maintain compliance with local regulations. Users can also perform comprehensive portfolio analysis, real-time tracking, and receive personalised financial insights, making it easier to navigate the complexities of cryptocurrency investment and management.
“This partnership with Bitstamp marks a significant milestone for Kryptos as we continue to expand our ecosystem and integrate with leading platforms in the crypto space,” said Sukesh Tedla, CEO of Kryptos. “By combining Bitstamp’s robust trading infrastructure with our advanced Web3 financial tools, we are setting a new standard for accessibility and compliance in the digital asset industry.”
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