Stripe picks Dublin as base for its first manufacturing hub outside of the US

Fast-growing fintech Stripe will build its first manufacturing centre outside of the United States in Dublin.

The online payments company, whose clients include the likes of ASOS and Deliveroo, will construct the hub in Ireland's capital city, also the site of its European headquarters.

Also the home nation of Stripe's co-founders, Ireland has become one of the continent's centres of technology innovation with leading tech firms such as Apple and Facebook having strong links to the country.

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"Ireland has had a consistent approach of being outward looking and globally minded," CEO Patrick Collison told Reuters. "Dublin is our first engineering office outside of North America but over time I think Stripe will continue to become an increasingly global organization."

Stripe, founded in 2010, currently has over 100,000 customers in 25 countries around the world and was valued at over $9bn at its most recent funding round.

Based in San Francisco, it recently halted its support for payments using the cryptocurrency Bitcoin due to an increase in transaction times and fees.