The Avalanche C-Chain network has recently partnered with payment firm Stripe, enabling verified Stripe users to purchase Avalanche's AVAX cryptocurrency and transfer it to their wallets.
The Avalanche C-Chain network has recently partnered with payment firm Stripe, enabling verified Stripe users to purchase Avalanche's AVAX cryptocurrency and transfer it to their wallets. This integration was announced in a blog post by Ava Labs, the developer of the Avalanche network, on April 29. Additionally, eight Web3 applications on Avalanche have integrated with Stripe's platform.
The blog post explains that Avalanche app developers now have the ability to embed a customizable widget into their interfaces. This widget allows users to convert fiat currency to cryptocurrency using Stripe's platform. Several apps have already announced their integration with the widget, including the Avalanche Core portfolio app, staking protocol GoGoPool, Avvy username service, social media platform The Arena, NFT marketplace Zeroone, Halliday wallet, web development platform Pakt, and blockchain games DeFi Kingdoms and Shrapnel.
The integration aims to address the "cold start problem" in Web3, which occurs when users do not have sufficient funds in their wallets to initiate transactions on the platform. Stripe will handle KYC (Know Your Customer) procedures, payments, fraud detection, and compliance, allowing developers to focus on their applications. The launch of the integration allows Core portfolio users to create Avalanche accounts using their Google or Apple ID and fund them through bank transfers, debit cards, or credit cards.
Akash Gupta, head of consumer products at Ava Labs, expressed his belief that this collaboration will drive global cryptocurrency adoption. He stated: “Core’s integration with Stripe is just another step that underscores our dedication to providing users with intuitive, and streamlined solutions. By further bridging the gap between crypto and fiat, Core continues to pave the way for seamless onboarding and broader consumer adoption of digital currencies in everyday transactions.”
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