Luxembourg-based Bitstamp, currently in the process of being acquired by Robinhood, has struck a deal with the payments firm Stripe to expand its European business.

Bitstamp will “support Stripe’s fiat-to-crypto onramp across the EU,” the company said on 7 August 2024. “Bitstamp will manage the fiat currency to cryptocurrency conversion and transfers to consumers,” as part of its white labelled “Bitstamp-as-a-service” offering for financial firms.

The “Stripe onramp is a customisable widget that developers can embed directly into their app or website, providing users with a seamless checkout experience optimised for cryptocurrency conversion, and allowing instant settlement of crypto transactions.”

In its press release, Jean-Baptiste Graftieaux, global CEO of Bitstamp, called Stripe “one of the biggest and most trusted players in the payments space” and said being selected as a partner was “a testament to our own record for safety, reliability and security.”

Bitstamp was founded in 2011 and calls itself “the world’s longest-standing cryptocurrency exchange.” It had 4m customers worldwide and 24 hour spot trading volume of $357m, the data site Coinmarketcap said on Wednesday morning. Bitstamp announced its sale to the US investment and trading platform Robinhood in June. The transaction is expected to close in first half of 2025.

Stripe, also founded in 2011, is a global merchant payments firm based in San Francisco. “Stripe passed the milestone of $1trn in total payment volume in 2023, up 25% from the prior year,” it said in its annual user letter in March 2024.