TL;DR
- Stripe will add support for the Avalanche C-Chain, allowing users to buy AVAX directly.
- Avalanche’s native wallet, Core, now integrates this functionality, facilitating wallet funding with various payment methods.
- The integration aims to solve the “cold start problem” in web3, offering users a frictionless entry into the Avalanche ecosystem through Stripe.
Stripe, a platform dedicated to providing financial infrastructure services, has announced that it will support the Avalanche C-Chain, according to a statement recently shared. The integration will allow retail users to buy AVAX directly through Stripe without the need to use any exchanges.
Avalanche’s native wallet, Core, developed by Ava Labs, has integrated this new functionality. Now, users can fund their wallets using various payment methods, such as ACH transfers, debit cards, and credit cards.
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
The integration aims to address the “cold start problem” faced by many web3 companies, where users may lack sufficient funds in their wallets to transact on the platform. Stripe provides a comprehensive solution by handling identity verification, payments, fraud prevention, and regulatory compliance, offering users a frictionless entry point into the Avalanche ecosystem.
Additionally, Stripe offers a customizable widget that can be embedded in various decentralized applications (dApps) on AVAX, such as decentralized exchanges (DEXs), non-fungible token (NFT) platforms, and digital wallets. This enables users to transact directly from these applications using Stripe as a fiat-to-crypto bridge.
Avalanche and Stripe Aim to Break Entry Barriers to the Blockchain World
Several partners actively collaborating with Avalanche, such as GoGoPool, Avvy, Pakt, zeroone, Halliday, The Arena, Shrapnel, and DeFi Kingdoms, have already announced plans to integrate with Stripe’s onramp. They aim to reduce entry barriers to blockchain technology and foster greater adoption of digital currencies in everyday transactions.
Akash Gupta, Director of Consumer Products at Ava Labs, shared his enthusiasm for the integration with Stripe, highlighting its goal of improving functionality and user experience in Core. On the other hand, John Egan, Head of Crypto at Stripe, also expressed excitement about the partnership, emphasizing Stripe’s commitment to making it safe and easy for everyone to access the power of Web3.
