Stripe, a global financial infrastructure platform for businesses, has launched a Stripe-hosted fiat-to-crypto onramp, enabling Web3 companies to help their US-based customers purchase cryptocurrency more easily.
The announcement expands Stripe’s offerings in the crypto space, and also opens the onramp to all Web3 users, including those who joined the waitlist over the last few months. This development is expected to assist companies in offering cryptocurrency- and blockchain-enabled experiences, as their customers often face the problem of not having crypto in their wallets to carry out transactions.
Stripe’s onramp allows customers to purchase cryptocurrency at the precise moment they need it, for example, purchasing Ethereum and using it immediately to buy an NFT. Stripe now offers two implementation options for its onramp: the embeddable onramp that was announced last December, and the Stripe-hosted onramp at crypto.link.com, to which companies can direct their US-based customers, no code required.
The embeddable onramp is suitable for Web3 companies that want to fully customize the branding and customer experience, while the Stripe-hosted option provides an even easier way for users to get started. This development is expected to accelerate Web3 adoption, and assist developers in optimizing conversion and authorization rates, making it more likely that legitimate purchases go through. It includes built-in fraud tools and identity verification to support companies in meeting KYC and compliance requirements.
Stripe’s global infrastructure enables businesses to grow by helping them accept fiat globally, enabling easy payouts with crypto (USDC), lowering fraud, and facilitating smooth onboarding. The Stripe-hosted onramp is built for many use cases developed by Web3 companies around the globe, including Brave, Safe, 1inch, and Lens Protocol. These companies will use the Stripe onramp to enable their users to buy cryptocurrency directly into their self-custody wallets, reduce the barrier between Web2 and Web3, and easily and quickly fund their DeFi wallet.
Guillaume Poncin, the Head of Engineering for Crypto at Stripe, said, “With our onramp options, Web3 companies can now outsource a bunch of the very important but tricky pieces to Stripe—things like conversion and auth optimization, identity verification, fraud prevention, and so on. This allows companies to focus on what’s unique to their business, and helps their customers start using Web3 services quickly and safely.”
Source: https://azcoinnews.com/stripe-launches-fiat-to-crypto-onramp-for-web3-companies.html
