Stripe teams up with Goldman, Citi to offer banking services

Dec 3 (Reuters) - Fintech startup Stripe said on Thursday it has partnered with Goldman Sachs Group Inc and Citigroup Inc, among others, to launch banking services.

The software, known as Stripe Treasury, embeds financial services using application programming interfaces (APIs) onto Stripe's platform, allowing its customers to send, receive and store funds, the company said here.

The San Francisco-based firm said it is partnering with Goldman Sachs and Evolve Bank & Trust to expand its services in the United States, and partnering with Citibank and Barclays for a more global reach.

Stripe added that Canadian e-commerce company Shopify has extended its partnership for Shopify Balance, a business account tailored for the use of independent businesses and entrepreneurs.

Reporting by Sohini Podder in Bengaluru; Editing by Amy Caren Daniel