Strike and Bitstamp Partner to Boost Crypto Accessibility in the EU

Strike and Bitstamp Collaborate to Enhance Crypto Accessibility in the EU

In an exciting development for cryptocurrency enthusiasts, the Bitcoin payments application Strike has announced a partnership with the renowned crypto exchange Bitstamp. This collaboration aims to streamline the process of converting fiat to cryptocurrency, thereby facilitating a smoother on-ramp for users across the European Union. The announcement was made on Wednesday, highlighting the commitment of both companies to broaden their reach in the evolving cryptocurrency market.

Founded by the innovative entrepreneur Jack Mallers and operated by Chicago-based Zap Solutions, Strike has been making significant strides since it launched its services in Europe in April of this year, following its expansion into Africa in February. The fintech company offers a customizable widget that developers can easily integrate into their applications. This widget allows for the seamless conversion of various cryptocurrencies and ensures instant settlement of transactions, providing a user-friendly experience.

Currently, the widget supports a diverse array of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Stellar (XLM), and USD Coin (USDC). However, it is important to note that the widget will not be available to customers in the United Kingdom, as specified in the press release issued by both companies.

Bitstamp will play a crucial role in assisting Strike with the management of fiat-to-cryptocurrency conversions and facilitating transfers to consumers. This partnership is expected to significantly enhance Bitstamp’s Bitstamp-as-a-service product, which offers a white-label version of its trading services tailored for banks and fintech firms.

In a related development, on June 6, the well-known trading platform Robinhood (HOOD) announced its plans to acquire Bitstamp in a substantial $200 million all-cash transaction. This strategic move aims to broaden Bitstamp’s influence beyond the United States and bolster its competitive stance against other major players in the cryptocurrency exchange sector, including Coinbase.