Stripe has announced the launch of a fiat-to-crypto onramp to make it easier for Web3 companies to help customers buy cryptocurrencies. The new hosted option fills a critical need for crypto purchasing.
What is the new offering?
Stripe’s new fiat-to-crypto onramp comes in two options:
- An embeddable widget that allows companies to offer crypto purchases directly on their website.
- A Stripe-hosted onramp at crypto.link.com, requiring no code from the company.
Both options aim to optimize purchase rates while including tools for identity verification, fraud prevention, and compliance.
How does it help Web3 companies?
The onramp helps Web3 companies solve a common problem: their customers lacking the crypto to transact. The onramp allows customers to purchase crypto at the moment they need it. The Stripe-hosted option also removes the technical burden from Web3 companies, allowing them to focus on their core business.
Who is using the onramp?
Several Web3 companies plan to integrate or are already using the Stripe onramp:
- Brave, a privacy-focused browser optimized for Web3. It will soon allow customers to buy crypto directly into their Brave Wallet accounts.
- Safe enables users to manage digital assets on Ethereum. Developers can now embed Stripe’s onramp to reduce the barrier between Web2 and Web3.
- 1inch provides access to decentralized finance. It will integrate Stripe’s onramp to let users quickly fund their DeFi wallet.
- Lens Protocol, which enables creators to monetize content. It will use Stripe’s onramp to allow users to collect content and support Web3 creators.