Stripe announced that its fiat-to-cryptocurrency payment service for businesses will be available on Web3 and that it will expand its partnerships with crypto companies. The fintech company hasn’t lost its faith in the crypto ecosystem, and it’s still excited about the possibilities for innovation.
On December 1, Stripe, a company that helps people pay online, announced its “fiat-to-crypto on-ramp” to make it easier for Web3 companies to accept payments. The project makes it easier for companies in dozens of countries around the world to pay with both fiat and cryptocurrency. The onramp is a widget that developers can customize and add directly to their decentralized exchange (DEX), non-fungible token (NFT) platform, wallet, or dApp.
With Stripe’s single integration, you don’t have to connect to multiple third-party services. Stripe takes care of everything, including KYC, payments, fraud, and compliance. Stripe’s move into crypto payments could make it easier for regular people to use blockchain payments.
Customers of blockchain-based companies can use the company’s product to avoid the hassles of crypto, like setting up a wallet and buying digital currencies from an outside exchange.
Stripe’s partnerships with crypto companies have continued to grow, allowing more crypto payouts and letting companies send USDC payments to people and businesses all over the world.
Stripe is a fintech company that works with many different companies. Stripe has teamed up with Audius, a blockchain-based music streaming service, Magic Eden, an NFT platform based in Solana, and Argent, a wallet service. Stripe’s payments on-ramp will be used in the partnership with Audius to let people tip their favorite artists with their credit cards in AUDIO tokens.
Web3 DEX Orca, Fractal, and Backpack, all of which are based in Solana, are also taking part in the program. Through Orca’s built-in on-ramp, users will be able to buy tokens like USDC and SOL with fiat currency.
Even though the cryptocurrency market has had some setbacks recently, Stripe is still excited about the potential for innovation in the space and fundamentally optimistic about how crypto can help build a more accessible financial services ecosystem around the world.