Cryptocurrency exchange FTX shifts to Stripe for payments, identity verification

Cryptocurrency exchange FTX and its U.S. unit, FTX.US, on Thursday have switched to Stripe (STRIP) to build an onboarding and identity verification flow for users, as well as powering a better payment experience for buying digital assets, Stripe said in a release. “We want FTX to become a trusted mainstream brand,” said Tristan Yver, head of strategy at FTX. “We’ve partnered with Stripe to help us transform what could be unintuitive crypto experiences into ones that exceed consumer expectations.” FTX will also deploy the so-called Stripe Radar, which uses machine learning models to distinguish fraudsters from legitimate customers, to mitigate fraud risk. “The optimizations we made in our payments setup with Stripe deliver the smooth on-ramp experience FTX’s growing customer base demands. We’re able to multiply revenue by making it easier than ever for people to invest in crypto,” said Yver. Likewise, FTX has chosen Stripe Identity to build onboarding