Stripe, a leading payments service provider, has debuted a project that introduces fiat-to-crypto payments for web3 enterprises around the world. The offering is in the form of a customizable widget embeddable directly into a “decentralized exchange (DEX), NFT platform, or wallet.”
In order for consumers to use their Web3 applications, developers must battle rampant fraud, manage complicated KYC procedures, and somehow still provide a frictionless, high-conversion payments experience. The onramp fiat-to-crypto service will solve this problem.
Over the last few months, Stripe has expanded collaborations with crypto companies to develop projects and offer more services to support crypto payouts in over 67 countries. The company has been working to provide its Global Payments and Treasury Network access to crypto platforms. It partnered with Nifty Gateway to onboard and offer KYC service for creators, enabling them to accept payments.
The fiat-to-crypto offering is not the first attempt to familiarize with crypto payments. The payment firm has already accomplished numerous projects in the domain of blockchain, out of which many are built on Solana. Solana offers convenient and customizable on-premise services and manages know-your-customer (KYC), fraud, and compliance issues.
Audius is one of the first few projects that use Stripe’s fiat-to-crypto widget. It is a decentralized music discovery platform where Stripe’s payment widget will enable users to use their credit cards to purchase AUDIO tokens.