Stripe launched cash to crypto service for Web3 apps
Stripe has launched cash to crypto service for Web3 apps will lead customers to purchase cryptocurrencies in real-time instantaneously. An Irish-American Payment processor company Stripe has announced offering a fiat-to-crypto payment service for Web3 firms.
The new Stripe solution comes in the shape of a widget that can be added to Web3 platforms and apps. Using this new widget, blockchain-based gaming companies can onboard players and let them add money to their wallets. To exchange fiat currency and crypto, no third-party services are required as the widget is customizable and can be integrated with their existing products. It will also help the customers of blockchain-based companies avoid certain issues including setting up a wallet and buying digital currencies from an external exchange.
Customers can purchase cryptocurrencies in real-time through Web3 applications instantaneously due to the fiat-to-crypto service which provides a simple Fiat to cryptocurrency onramp. Decentralized exchanges (DEXs), non-fungible token (NFT) platforms, crypto wallets, and other decentralized apps (DApp) will all adapt and incorporate the new Stripe widget.
Stripe's Link service lets customers save their payment and identifying information, which can be automatically filled in during subsequent purchases.
The new offering covers know-your-customer (KYC) payments and regulatory issues. It will also handle fraud and compliance the company said in a blog post. The new product, according to Stripe, was created to remove obstacles.
Stripe did partnership deals with other firms
The blockchain-based music streaming platform Audius is one of the most recent partnerships of Stripe, making it one of the first businesses to utilize Stripe's new on-ramp. Since last year, Stripe has been working on a number of agreements with cryptocurrency companies as more and more countries permit cryptocurrency payments. Companies like NFT marketplace Magic Eden, and crypto wallet company Argent are already using the onramp.
CBW - External Analyst