FTX Teams up With Stripe for Payments and KYC Processes

FTX Teams up With Stripe

Crypto derivatives exchange FTX and its US affiliate has partnered with Stripe to enhance payments for users buying crypto using debit cards and bank transfers.

The exchange will use Stipe radar, a machine learning system, to identify bad actors in its platform as part of the deal. 

FTX will also use Stripe Identity to aid the onboarding and identity verification function to enable new cryptocurrency traders to verify their user accounts seamlessly.

The head of Strategy at FTX, Tristan Yver, lauds the partnerships as an opportunity for the company to enhance its customer experience in the crypto sector.

The news comes after Stripe announced its support for cryptocurrencies and non-fungible tokens. APIs enable the new offering to allow enterprises to deploy NFTs and crypto projects.

FTX has experienced rapid growth in the past two years, with investors currently trading $14 billion worth of assets per day.

Source: Stripe

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