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We're not marking up the exchange rate. 0.5% is the only fee.
by collision 12y ago
We're not marking up the exchange rate. 0.5% is the only fee.
- Killswitch 12y agoAwesome work! I've been trying to push bitcoin at our company as a form of payment, we use Stripe already, so this will make it easier.
- foobarqux 12y agoMarking it up from what? There isn't really a canonical exchange rate.
- kchoudhu 12y agoInherent to Stripe processing BTC is the fact that you are now a foreign exchange broker. Here's a small sample of why you're going to have to do a lot better than "we only charge 0.5%" to convince me that adding FX risk into my payment processing stack is a good idea: http://www.bloombergview.com/articles/2014-11-12/banks-manipulated-foreign-exchange-in-ways-you-can-t-teach http://www.bloombergview.com/articles/2014-11-12/banks-manip... http://www.bloombergview.com/articles/2015-02-09/banks-will-charge-extra-for-not-manipulating-fx http://www.bloombergview.com/articles/2015-02-09/banks-will-... And that's just from the last three months, in an arena that is already heavily regulated by the SEC.
- collision 12y agoHm? As a business selling with Stripe, you won't be taking any FX risk. You request $20, and you receive $20 - 0.5%. I am a huge fan of Matt Levine's work, but the articles you reference are about banks who participate in the FX markets, which is... different. (Relevant disclosure: I work at Stripe.)