New partnership at Bistamp sparks crypto accessibility
Bitstamp, a global crypto exchange, is on a mission to make the crypto sector more accessible and seamless for both seasoned investors and newcomers. To achieve this, Bitstamp (executive team pictured above),has announced two new partnerships, ensuring coverage of both traditional finance (TradFi) and decentralized finance (DeFi) bases.
According to research from Triple-A, a digital currency paytech, the number of global crypto users surged from 420 million in 2022 to 562 million in 2023. This significant increase in crypto usage necessitates that organizations adapt accordingly. Firms that fail to cater to the growing popularity of cryptocurrency risk losing customers to their competitors.
To simplify the integration of crypto payments, Bitstamp has partnered with Stripe, a financial infrastructure platform. Four months ago, Stripe announced its re-entry into the crypto sphere after a six-year absence. As it seeks to establish itself in the digital assets ecosystem, this partnership will serve as a bridge between the world of traditional finance and the decentralized ecosystem.
Bitstamp will support Stripe’s fiat-to-crypto onramp across the EU by managing the conversion and transfer of fiat currency to cryptocurrency for consumers. This expansion of Bitstamp-as-a-service further solidifies cryptocurrency’s role as a vital part of the digital payments’ ecosystem.
Stripe’s onramp is a customizable widget that developers can embed directly into their app or website. It provides users with a seamless checkout experience optimized for cryptocurrency conversion and allows instant settlement of crypto transactions. Developers 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.
But Bitstamp’s efforts to make crypto more accessible don’t stop with new merchants and consumers. By partnering with Kryptos, a web3 finance platform, Bitstamp is also ensuring that users within the space benefit from the latest technologies.
The partnership will allow users to link their Bitstamp accounts with the Kryptos platform, unlocking a new realm of financial possibilities within the Web3 ecosystem. As a result, users gain the ability to manage their digital assets and access a suite of advanced financial tools on Kryptos. This integration combines the strengths of both platforms to enhance user experience and financial management capabilities.
Revolutionising blockchain
A key aspect of this partnership is the enhanced ability for users to maintain compliance with their crypto tax obligations amidst growing regulatory scrutiny12. The integration provides users with the necessary tools to generate accurate tax reports and maintain compliance with local regulations12. Users can also perform comprehensive portfolio analysis, real-time tracking, and receive personalized 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 it continues to expand its ecosystem and integrate with leading platforms in the crypto space. By combining Bitstamp’s robust trading infrastructure with Kryptos’ advanced Web3 financial tools, a new standard for accessibility and compliance in the digital asset industry is being set.
