Global payments giant Stripe announces a partnership with FTX to support crypto businesses including exchanges, according to a news release by Stripe on Thursday.

  • Stripe will provide fiat payments API integration for crypto businesses to process crypto-to-fiat currency payments.
  • As part of the toolkit for cryptocurrency companies, Stripe will offer flexible on-ramps for exchanges. These on-ramps will allow for both fiat deposits and withdrawals for crypto exchanges.
  • Stripe’s crypto business services also include protocols for user identification and fraud prevention. Crypto exchange FTX and its US affiliate, FTX.US, have collaborated with Stripe to enhance know our customer (KYC) protocols.
  • The partnership will help Stripe to build user onboarding protocols including identity verification processes and procedures.

FTX and its users will be able to purchase crypto using debit cards and direct bank transfers through Automated Clearing House (ACH) transactions. BTC USD up +0.97%