In short: Stripe has introduced a fiat-to-crypto onramp, aimed at providing a streamlined process for Web3 companies, allowing their US-based clients to buy cryptocurrencies. The onramp, which can be embedded on a company's site or hosted by Stripe, is expected to optimise conversion and authorisation rates. Fraud tools and identity verification have also been included to assist in meeting compliance checks required. The new instrument follows December’s release of a fiat-to-crypto widget that can be embedded in any crypto product where users can enter their payment card information to purchase cryptocurrency.
Our quick analysis:
Payment giant Stripe has recently announced an exciting development in the crypto space. The company has launched a fiat-to-crypto onramp that will enable US-based customers to purchase crypto in a streamlined process. The good news doesn't stop there. The onramp will also be available to all Web3 users, not just those who signed up over the last few months.
Stripe's focus on optimizing conversion and authorization rates means that even those new to the crypto world can securely and efficiently purchase it with fiat currency. Plus, the new offering includes built-in fraud tools and identity verification to prevent manipulation and fraud.
James Mudgett, vice president of Web3 products at Brave, commented on the new development, stating, "We're thrilled to partner with Stripe as they expand their offerings in the crypto space. We're excited to offer a fiat payment solution that will allow us to reach new Web3 users."
This latest offering from Stripe follows the release of a fiat-to-crypto widget just last December, which can be embedded in any crypto product. This feature enables users to enter their card information and acquire crypto that can be used in another Web3 product.
It's worth noting that Stripe has recently signed agreements to raise more than $6.5 billion from existing shareholders and new investors. This capital will be used for employee liquidity and does not affect the company's operation.
So, for those who are Web3 junkies but still want to buy crypto with fiat, Stripe has just made it easier for you to do so.
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Payment giant Stripe has recently announced an exciting development in the crypto space. The company has launched a fiat-to-crypto onramp that will enable US-based customers to purchase crypto in a streamlined process. The good news doesn't stop there. The onramp will also be available to all Web3 users, not just those who signed up over the last few months.
Stripe's focus on optimizing conversion and authorization rates means that even those new to the crypto world can securely and efficiently purchase it with fiat currency. Plus, the new offering includes built-in fraud tools and identity verification to prevent manipulation and fraud.
James Mudgett, vice president of Web3 products at Brave, commented on the new development, stating, "We're thrilled to partner with Stripe as they expand their offerings in the crypto space. We're excited to offer a fiat payment solution that will allow us to reach new Web3 users."
This latest offering from Stripe follows the release of a fiat-to-crypto widget just last December, which can be embedded in any crypto product. This feature enables users to enter their card information and acquire crypto that can be used in another Web3 product.
It's worth noting that Stripe has recently signed agreements to raise more than $6.5 billion from existing shareholders and new investors. This capital will be used for employee liquidity and does not affect the company's operation.
So, for those who are Web3 junkies but still want to buy crypto with fiat, Stripe has just made it easier for you to do so.
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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