Global financial services firm Stripe has collaborated with a crypto firm and released a new crypto payment solution that could broadly boost the sector with faster adoption.
Payments firm Stripe has recently ventured into crypto, partnering with another firm for a new crypto payment solution. The move could be a big turnaround point for global crypto payments. The Stripe crypto feature results from the company’s partnership with blockchain firm Avalanche. With the solution, Stripe users can now buy and store the AVAX token in their wallets.
Thus, the Stripe crypto solution allows users to implement fiat-to-crypto conversions. Moreover, the Avalanche C-Chain network has joined Stripe, making this possible. Avalanche released an official press release on the new crypto payments feature.
On the other hand, John Egan, heading crypto at Stripe, said, “We’re excited to add AVAX into our onramp’s family of supported networks. Further enabling consumers to onboard into Avalanche’s growing dApp ecosystem is closely aligned to our goal of making it safe and easy for everyone to access the power of Web3.”
His words referenced how developers in the Avalanche ecosystem could now leverage Stripe for payments and conversions. The press release also noted how Stripe solved a key blockchain ecosystem problem.
Several users of crypto firms reportedly face issues with lower wallet funds when carrying out transactions. Stripe will fill this gap and handle payments, compliance, KYC, and other matters.
Several dApps in the Avalanche ecosystem will integrate with Stripe. The press release provided a detailed list. Meanwhile, Stripe’s co-founder John Collison has also recently spoken about the potential of crypto recently at an event.
Stripe’s initiative came just days after another payment firm, PayPal, started a new program for Bitcoin miners.
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