coinculture.com
Stripe, a payments startup, announced Thursday the launch of a project to ease fiat-to-crypto payments for businesses in dozens of countries.
The product, a customisable widget that can be incorporated directly into a decentralised exchange (DEX), non-fungible token (NFT) platform, or decentralised app (dapp), is intended to enable fast cryptocurrency purchases in Web3 applications. Eleven of the initial sixteen projects constructed by the business are on Solana. According to Stripe, it provides personalised onboarding services and manages know-your-customer (KYC) payments, fraud, and compliance challenges.
1/ @Stripe debuted its fiat-to-crypto payments onramp — and 11 of the 16 projects in the program are built on Solana 💪@AudiusProject@xNFT_Backpack@FastAF@fractalwagmi@glowwallet@MagicEden@magic_labs@orca_so@ottrfinance@spotwallet@UltimateMoneyhttps://t.co/F8uNupoucQ
— Solana (@solana) December 1, 2022
The company noted in a blog post, “We built our fiat-to-crypto on-ramp to remove [logistical] complexity.”
Over the past year, Stripe has expanded its collaborations with crypto companies and added support for crypto payouts in 67 countries, allowing enterprises to send USDC payments to individuals and organisations worldwide.
Audius, a decentralised music discovery platform, is one of the first companies to leverage Stripe’s new on-ramp. Audius has integrated Stripe’s payments service to enable users to use their credit cards to purchase its native AUDIO currency and tip their favourite musicians. In July, the platform made its first step toward allowing users to tip artists with digital currencies AUDIO.
Orca, a decentralised exchange based in Solana, is another startup employing Stripe’s widget. Users can now acquire tokens such as USDC and SOL using money via an Orca-built on-ramp.