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Bruce B. Dec 5, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Payments processing company Stripe announced a so-called “fiat-to-crypto on-ramp” to make payments easier for Web3 companies.

The service, which crypto companies can use to let their customers exchange dollars for crypto, will also handle fraud, compliance, and know-your-customer checks.

Stripe said blockchain-based gaming companies could use Stripe’s new widget to onboard players and let them add money to wallets. It is a seamless checkout experience, optimized for conversion, allowing for instant settlement of crypto.

The new onramp is customizable widget developers can embed directly into their DEX, NFT platform, wallet, or dApp. Consistent with Stripe’s focus on simplicity and developer experience, it can be integrated with just 10 lines of code:

The on-ramp will also help the customers of blockchain-based companies avoid some of the headaches that come with crypto. “It’s extremely difficult to get new end users ‘on chain’— that is, to fund their wallets with the crypto required to interface with Web3 applications.” wrote Stripe in their blog.

Companies like blockchain-based music streaming platform Audius, NFT marketplace Magic Eden, and crypto wallet company Argent are already using the onramp, Stripe said.

“Despite recent events, we remain excited about the underlying prospects for innovation.”

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