By Richard Hines
The Solana-based decentralised crypto exchange, Orca, has announced its partnership with the prominent financial services provider, Stripe Inc., to create a payment gateway that will accept fiat and cryptocurrency.
This will be possible via the onramp created within Orca and Stripe’s gateway systems. This development is quite surprising, as Stripes Inc. had earlier in 2018 stopped the use of cryptocurrencies on its platform.
This integration with Orca signifies its first partnership with a decentralised exchange.
Users To Enjoy A Simple Fiat-to-Crypto Exchange
Simply put, in the context of financial independence, “fiat” refers to traditional currencies that are legal tenders issued by governments all over the world.
Fiat-to-crypto payment gateways are not a new occurrence in the crypto industry; however, according to the information released, the new Orca and Stripe’s payment gateways will be quite different from the rest.
As soon as it is launched, the gateway will reportedly offer community members and users an avenue to conduct their fiat to crypto transactions with no stress at all, as opposed to the complex systems of the numerous crypto exchanges in the industry.
As soon as it is launched, users will be able to buy cryptos like Solana and USDC through their Fiat deposits with no hassles at all. Afterwards, the token will be transferred to the user’s Solana wallet, and the balance will be displayed on the panel.
The words put out suggest that the crypto industry is not ready to experience the seamlessness and effectiveness of the gateway.
Stripe Inc Back To Dealing With Crypto
From the announcement, the financial services company, Stripes Inc., is back to dealing with cryptocurrency.
After announcing the support of crypto payments in 2014, the company went ahead in 2018 and announced that it was stopping the support. It had described that it did not find cryptocurrencies very useful, so it was going to halt crypto payments.
However, it appears as if the company has recanted its words and has newly discovered that the crypto industry is actually worth its while.
Many observers and experts have predicted that the company’s reemergence in the crypto industry will serve as a formidable opponent to other existing crypto exchanges.