By George Ward
Stripe, an Irish-American financial service company, has introduced a new gateway to make crypto conversion easier. This gateway allows users to convert fiat currency like the USD to any crypto.
So far this year, Stripe has allowed its users in more than 60 countries to receive crypto rewards. Stripe’s latest payment gateway is a modifiable and embeddable widget.
This widget can be integrated into various wallets, decentralized apps, and DeFi platforms. Additionally, projects can integrate the new widget into their Web3 applications.
Hence, users do not have to leave the app when purchasing digital currencies. Furthermore, on its official blog, Stripe said its goal is to develop a fiat-to-crypto gateway that simplifies crypto purchasing.
Meanwhile, there are over 16 firms that now support the fiat-to-cryptocurrency onramp. These firms range from crypto wallet firms like Argent to NFT marketplaces such as Magic Eden and a music streaming platform, Audius.
Forrest Browning, Audius’ CEO, noted that his platform’s integration with Stripe is good news for its users. Browning said the company’s team is ready to integrate Stripe’s onramp widget into its Web3 application.
According to the CEO, companies are looking for a flexible and low-cost crypto onramp. Meanwhile, Stripe has outlined the various benefits of its latest onramp service.
Companies who adopt the service will save funds they would have spent on numerous external contracts for fraud, KYC, and regulatory compliance.
Stripe Services Now Available In Over 67 Countries
In a blog post, Itamar Lesuisse, Argent CEO, recently stated that this feature is a massive development. Lesuisse added that it would allow for seamless transactions between decentralized and centralized financial systems.
In the past 12 months, Stripe has added support for more digital currencies. Also, the payment giant has increased the number of nations that can use the crypto payout option.
This brings the total number of countries to 67. Therefore, companies and individuals can make USDC payments from different parts of the world.
Recently, Audius, a music platform, announced support for credit card payments using Stripe’s onramp service. Users of the music platform can use their credit cards to purchase AUDIO, the platform’s native coin.
Earlier in July, the company allowed its users to use AUDIO gained on the platform to pay content creators. This move was a major achievement towards payment of artists using digital currencies.
Another project using Stripe’s widget is Orca. Orca is a decentralized crypto exchange built on the Solana blockchain. Orca users can now buy cryptos like Solana and USDC with fiat currency using Stripe’s onramp widget.