Stripe and OpenNode Join Forces to Bring BTC Payments to Millions of Merchants

May 26, 2022, 10:00 AM AEST - 1 month ago

Stripe, one of the world’s largest payment processors, is partnering with OpenNode to allow instant fiat-to-bitcoin conversions for a host of businesses. The new OpenNode app will launch on the Stripe App Marketplace in coming weeks:

Choice of Auto or Manual Set Amounts

To instantly convert all or portions of incoming payments to bitcoin, businesses will have the choice of setting an automatic amount or manually converting any amount they wish.  

According to OpenNode’s head of strategy, Josh Held, “The app gives businesses a simple and secure way to convert incoming payments to bitcoin in real-time, automatically or on-demand.” The functionality will be available via a new app from Bitcoin Lightning Network infrastructure provider OpenNode on Stripe’s new app marketplace within the next couple of weeks.

Businesses will be able to see their bitcoin wallets and conversion rates within the apps, as seen below:

Source: Stripe Marketplace

Direct Link to Bank Accounts

The app will also allow businesses to connect directly with their bank accounts, thereby enabling accessible bitcoin conversions from fiat at any time.

The automatic conversion from fiat to bitcoin will be accomplished through a split-payment feature located in the app, which businesses will be prompted through when undertaking the initial setup process. If businesses choose not to set up split conversion initially, they can return to the app’s setting and enable the feature at any time.

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