Stripe Launches Stripe-Hosted Fiat-To-Crypto Onramp For Web3 Users
Stripe, the financial infrastructure platform for businesses, has launched a Stripe-hosted fiat-to-crypto onramp, making it easier for Web3 companies to help US-based customers purchase cryptocurrency. The onramp also includes built-in fraud tools and identity verification to support companies in meeting KYC and compliance requirements.
Stripe, one of the largest Internet payment companies, today announced the launch of a Stripe-hosted fiat-to-crypto onramp, making it easier for Web3 companies to help US-based customers purchase crypto. In addition, Stripe is opening the onramp to all Web3 users.…
— Wu Blockchain (@WuBlockchain) May 5, 2023
Stripe’s Onramp
The onramp offers two implementation options for its onramp: an embeddable onramp and a Stripe-hosted onramp at crypto.link.com. The embeddable onramp is helpful for Web3 companies that want to fully customize the branding and customer experience, while the Stripe-hosted option provides an even easier way for users to get started.
Companies interested in offering cryptocurrency- and blockchain-enabled experiences often face a cold start problem: their customers don’t have the cryptocurrency in their wallets to carry out transactions. Stripe’s onramp allows customers to purchase cryptocurrency at the precise moment they need it. They could purchase Ethereum, for example, and immediately use it to buy an NFT.
“We’re thrilled to partner with Stripe as they expand their offerings in the crypto space,” said James Mudgett, vice president of Web3 products at Brave. “We’re excited to offer a fiat payment solution that will allow us to reach new Web3 users.”
Leveraging Stripe’s Onramp Options
Stripe’s global infrastructure makes it simple for businesses to grow – helping them accept fiat globally, enabling easy payouts with crypto (USDC), lowering fraud, and facilitating smooth onboarding. An increasing number of crypto companies are adopting Stripe products beyond the onramp. “At this stage, it is very important to build bridges between Web2 and Web3,” said Sergej Kunz, co-founder at 1inch. “Given their work with leading Web3 companies, Stripe is well positioned to help.”
The Stripe-hosted onramp is built for many of the use cases developed by Web3 companies around the globe, including Brave, Safe, 1inch, and Lens Protocol. With the onramp options, Web3 companies can outsource many of the important but tricky pieces to Stripe, such as conversion and authorization optimization, identity verification, fraud prevention, and more. This allows companies to focus on what’s unique to their business and helps their customers start using Web3 services quickly and safely. “By integrating Stripe’s onramp, we bring their payment solutions closer to some of the most trusted onchain infrastructure,” said Clément Bihorel, product lead at Safe.
