Online Payment Startup Stripe Atlas ‘Open’ to Individuals in Russia

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Co-founder and CEO of Stripe Patrick Collison said that US digital payment startup Stripe Atlas is open to individuals in Russia, and the company is ready help Russian entrepreneurs operate.

HAVANA (Sputnik) – US digital payment startup Stripe Atlas is open to individuals in Russia, and the company is ready help Russian entrepreneurs operate, co-founder and CEO of Stripe Patrick Collison told Sputnik.

"For sure Atlas is open to individuals in Russia. They can incorporate businesses in the US," Collison said on Monday when asked if the company is looking at expanding its services to Russia. "We are aware that there are many really talented developers and entrepreneurs in Russia. I have spent time myself in Moscow, and so we look forward to helping them operate."

Collison added that the discussions on possible projects with Russia were already ongoing.

"Some of my friends are Russian entrepreneurs. We spent many years talking about the opportunities they have, and also about the challenges they face, and thinking about the ways Stripe might possibly help," he explained. "Russia is a very large market with a large population and very talented group of developers, Stripe stands for enabling entrepreneurship around the world, and that goes for Russia."

Stripe Atlas allows entrepreneurs to incorporate a US company, set up a US bank account, and accepting payments with Stripe, according to the company’s website.

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Stripe is currently operating in 25 countries, including the United States, Germany, Japan, Canada, and Australia.

Stripe Atlas is also expected to begin its operation in Cuba in the nearest weeks amid the normalization process between Washington and Havana.


"We have all of the major pieces lined up. We have already established relationships with our partners. We have been meeting and talking to entrepreneurs on the ground. And we will be incorporating the first Cuban companies very soon," Collison said. "You have got to count the timeline in a small number of weeks."

The company announced earlier in March, that its new service Stripe Atlas would be available to Cuba following the removal of certain restrictions by the White House.

Despite the reduction in tensions, the United States continues to maintain a trade embargo on Cuba mandated by Congress, even though Obama has been trying to persuade both chambers of the US legislative body lift the restrictions.

Since the United States restored formal diplomatic ties with Cuba in July 2015, Obama has chipped away at the embargo with a series of executive orders that have opened the island nation to US tourists and some business ventures.

The US restrictions on overall trade will remain in place until Congress changes or scraps the 1960 law that put the embargo in place.

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