Avalanche integrates with Stripe for fiat-to-crypto onboarding

Avalanche C-Chain users can now buy AVAX straight from Web3 apps using a Stripe-supplied widget. The Avalanche C-Chain network has merged with payment firm Stripe, allowing verified Stripe customers to purchase Avalanche’s AVAX $34.84 and transfer it to their wallets, according to an April 29 blog post from the network’s developer, Ava Labs. Eight Avalanche Web3 apps have also been added to the platform. According to the post, Avalanche app developers can now add a customizable widget to their interfaces that allows customers to convert cash to cryptocurrency using Stripe’s infrastructure.

Eight apps, including the Avalanche Core portfolio app, staking protocol GoGoPool, Avvy username service, social media platform The Arena, nonfungible token (NFT) marketplace Zeroone, Halliday wallet, web development platform Pakt, and blockchain games DeFi Kingdoms and Shrapnel, have already announced plans to integrate the widget. According to the post, the integration aims to address the “cold start problem” in Web3, which arises when “customers don’t have enough funds in their wallets to carry out transactions on the platform.” Stripe will handle “all the KYC, payments, fraud, and compliance,” freeing up the developer to focus on the product. 

Ava Labs’ head of consumer products, Akash Gupta, believes the integration with Stripe will boost cryptocurrency acceptance globally. He remarked, “Core’s integration with Stripe is another step that underscores our dedication to providing users with intuitive and streamlined solutions.” Core continues to pave the way for easier onboarding and broader consumer adoption of digital currencies in everyday transactions by closing the gap between crypto and cash. Stripe announced on April 25 that it would support stablecoin payments utilizing Circle’s USD Coin USDC $1.00 on Solana, Ethereum, and Polygon.

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