Stripe announced the launch of its fiat-to-crypto payment offering for businesses on Web3 and expand its partnerships with crypto companies. The fintech company has maintained its optimism toward the crypto ecosystem and remains enthusiastic about the underlying prospects for innovation.
Stripe’s Embeddable & Customizable Fiat-To-Crypto Onramp
Stripe, an online payment processing company, announced on December 1 its “fiat-to-crypto on-ramp” to make payments easier for Web3 companies. The project is facilitating fiat-to-crypto payments for companies in dozens of countries around the world. The onramp is a customizable widget that developers can embed directly into their decentralized exchange (DEX), NFT platform, wallet, or dApp.
Stripe’s single integration removes the need to integrate multiple third-party services and handles all the KYC, payments, fraud, and compliance. Stripe’s move into crypto payments could help make blockchain payments more accessible to mainstream consumers.
End customers of blockchain-based companies can use the company’s product to avoid the hassles of crypto, such as setting up a wallet and buying digital currencies from an external exchange.
Stripe’s Variety Of Partners
Stripe has continued to expand its partnerships with crypto companies, supporting more crypto payouts and enabling companies to send USDC payments to people and businesses worldwide.
The fintech company Stripe has a variety of partners. Stripe has partnered with Audius, a blockchain-based music streaming platform, Solana-based NFT platform Magic Eden and wallet provider Argent. The partnership with Audius will use Stripe’s payments on-ramp to enable users to tip their favorite artists with their credit cards in AUDIO tokens.
Solana-based Web3 DEX Orca, Fractal, and Backpack are also participating in the program. Users will be able to buy tokens such as USDC and SOL with fiat via Orca’s built-in on-ramp.
Despite recent setbacks in the cryptocurrency market, Stripe remains excited about the promise of innovation in the space and maintains fundamental optimism about how crypto can help to facilitate a more globally accessible financial services ecosystem.