• Stripe and crypto exchange Bitstamp have joined forces to expand their businesses in Europe.

• Bitstamp will help Stripe manage fiat-to-crypto conversions and transfers to consumers.

CORRECTION (Aug. 7, 09:51 UTC): Corrects Bitstamp's partner to Stripe throughout. An earlier version of this story said the crypto exchange was working with Strike.

Payments processor Stripe has joined forces with crypto exchange Bitstamp to accelerate its expansion in the European Union by making fiat-to-crypto on-ramp easier for users, the companies announced Wednesday.

The fintech firm offers a customizable widget that developers can embed into their product to allow conversion of crypto and instant settlement of transactions. It currently supports multiple cryptocurrencies, including bitcoin {{BTC}}, Ethereum {{ETH}}, Solana {{SOL}}, Stellar {{XLM}}, and USD Coin {{USDC}}. The widget won't be available to U.K. customers, the two companies said in a press release.

Bitstamp will help the fintech firm manage fiat-to-cryptocurrency conversion and transfers to consumers. This, in turn, will expand the crypto exchange’s Bitstamp-as-a-service product, the white-label version of its crypto trading services to banks and fintechs.

On June 6, the popular trading firm Robinhood (HOOD) said it would buy Bitstamp in a $200 million all-cash deal. The move aims to expand the exchange's reach beyond the U.S. and compete with peers including Coinbase.