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Stripe Increasing Security Features for Crypto Businesses

The firm was started in 2010 and is said to be the largest private fintech company in the US. Its market valuation is around $95 billion (about Rs 7,07,598 crore).

US-based online payments firm Stripe is expanding crypto-related services for its users. For this, it wants to get business from exchanges, wallet providers and NFT marketplaces through its security features like fraud detection and authorization. It has already partnered with Bahamas-based crypto exchange FTX for its crypto trade.

Stripe claims that it allows crypto businesses as well as investors from around 180 countries to convert crypto assets into normal currency. its website“Our payment platform has been designed to prevent fraud and make conversions easier,” said the information available. With its ‘connect’ feature, users can make payments in normal currencies and it has an identity add-on verification system to prevent fraud. Stripe has also formed a special team to research the crypto segment. This team will also study the ‘Web3’ concept.  

The firm was started in 2010 and is said to be the largest private fintech company in the US. Its market valuation is approximately $ 95 billion (approximately 7,07, 598 crores). It started accepting payments in bitcoin in 2018 but stopped it for a few months after that.

The crypto segment has also started getting acceptance from the US government. Recently, US President Joe Biden made a statement related to crypto.Signed the executive order . In this, the Federal Reserve has been asked to consider whether it should issue its own digital currency. It also includes a study by the Treasury Department and other agencies on the impact of cryptocurrencies on the financial system and security. The US Treasury Department is starting a campaign to inform about the risks associated with crypto. The Department’s Financial Literacy Education Commission will prepare materials for this and will inform people about the working of crypto assets and the risks associated with it. has also increased. For this reason, regulators want to increase surveillance of this segment. Scrutiny of this segment has increased in some other countries as well.

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