• Wed. Jun 22nd, 2022

Stripe will allow millions of merchants to convert payments to Bitcoin via OpenNode

ByHazel R. Lang

May 24, 2022

Stripe, a global payment processor, has partnered with OpenNode to enable businesses to convert fiat payments to bitcoin.

  • Stripe, one of the largest payment processors in the world, has just announced that businesses will be able to convert any amount of payments into bitcoins.
  • The feature comes from a partnership with Bitcoin Lightning Network infrastructure provider, OpenNode, through Stripe’s new app marketplace.
  • Stripe simultaneously announced the launch of its app marketplace that enables custom user interfaces to integrate with Stripes’ global customer base.

Stripe, one of the world’s leading payment processors, has just announcement a partnership with bitcoin payment infrastructure company OpenNode, which will allow businesses to convert fiat payments to bitcoin.

Through the OpenNode app located on Stripe’s app marketplace, users will be able to convert fiat payments to bitcoin in real time. Businesses can set an automatic amount of their payments to convert to bitcoin, or they can manually convert any amount to bitcoin they want.

Businesses will be able to see their Bitcoin wallets and conversion rates at a glance in the app, as shown below.

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The app will also allow businesses to connect directly to their bank accounts enabling accessible bitcoin conversions from fiat at any time as shown below.

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Automatic conversion from fiat to bitcoin is accomplished through a split payment feature located within the app, which businesses will be prompted to use during the initial setup process. If businesses choose not to set up split conversion initially, they can simply go back to app settings and enable the feature at any time.

Stripe’s app market has also been announcement today, which will allow companies like OpenNode to build client user interfaces that will streamline workflows and enable data sync compatibility between Stripe and its participating partners.

Using Stripe’s open Application Programmable Interface (API), developers can start building apps that will support Stripe integrations. App billing will be simple enough for companies looking to build on Stripe as a business mentioned Stripe Apps does not currently offer in-app billing, but apps can be free or paid, but businesses will need to manage their out-of-market billing at launch.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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