This integration enables U.S. retail users to directly purchase AVAX, Avalanche’s native token, through Stripe’s platform.
It eliminates the need for traditional cryptocurrency exchanges. Let’s explore more about this important news about Stripe.
Stripe Facilitates Direct AVAX Purchases, Bypassing Exchanges
The partnership introduces Stripe’s customizable fiat-to-crypto onramp widget, embeddable directly into Avalanche dApps. This includes DEXes, NFT platforms, and digital wallets, seamlessly bridging fiat currencies and digital assets. This onramp simplifies cryptocurrency acquisition and enhances user engagement by integrating directly with the platforms where these assets are used.
A key integration of Stripe’s onramp is with Core, Ava Labs’ native wallet and portfolio app for the Avalanche blockchain. This integration offers Core users an efficient way to fund their wallets via ACH, debit, or credit cards. Users interested in utilizing this service can easily create a Core wallet using their Gmail or Apple ID and then purchase AVAX through the Core’s extension or its web application at the core app.
Stripe's expansion into crypto continues, today integrating Avalanche & Core to provide easier access to Web3
🔺US users can purchase $AVAX directly thru Stripe without using an exchange
🔺Avalanche apps can embed Stripe’s onramp via customizable widget https://t.co/NIBEfQUWuP
— Avalanche 🔺 (@avax) April 29, 2024
Stripe’s initiative addresses a common barrier in the cryptocurrency world known as the “cold start problem.” This issue occurs when new users of Web3 platforms do not have sufficient funds in their digital wallets to begin transacting.
The support for Avalanche C-Chain by Stripe is a noteworthy development for both companies and users alike. For Stripe, it marks a deeper venture into the cryptocurrency domain, aligning with its goals to diversify and modernize financial transactions globally.
For Avalanche, it broadens the accessibility of its platform, encouraging more widespread adoption of AVAX and supporting the growth of its diverse array of dApps.
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