• Avalanche has integrated with Stripe to allow fiat-to-crypto onboarding for AVAX
• Stripe will handle KYC, payments, fraud, and compliance, eliminating the need for a separate exchange
• Eight Avalanche Web3 apps have integrated the Stripe widget for fiat-to-crypto conversion
Avalanche has integrated with payment platform Stripe to allow for seamless fiat-to-crypto conversions, making it easier for users to get started in Web3 apps built on the network. This removes a major friction point that often deters people new to crypto.
How the Integration Works
The integration works through a customizable widget that Avalanche app developers can embed into their apps. This widget connects to Stripe’s infrastructure to enable quick purchases of AVAX, Avalanche’s native token, using cards, bank transfers or Apple/Google Pay.
Stripe handles all the regulatory components like KYC and anti-fraud in the background so developers can focus on building their apps rather than managing payments.
Initial Apps Integrating Stripe Widget
Eight Avalanche apps have already announced plans to integrate Stripe’s fiat-to-crypto widget, including:
- Avalanche Core portfolio app
- Staking protocol GoGoPool
- Avvy username service
- Social media platform The Arena
- NFT marketplace Zeroone
- Halliday wallet
- Web development platform Pakt
- Blockchain games DeFi Kingdoms and Shrapnel
This will make it seamless for their users to purchase AVAX and engage with their services.
The Benefits
According to Ava Labs, this integration helps onboard new users and increases adoption of digital assets in everyday transactions. Akash Gupta, Head of Consumer Products at Ava Labs, noted it “continues to pave the way for seamless onboarding and broader consumer adoption of digital currencies.”
By removing friction during the fiat to crypto conversion process, Avalanche is making it easier for regular users to explore its ecosystem of Web3 apps. This could provide a significant boost to adoption.
Conclusion
Integrating Stripe’s fiat infrastructure is a logical step for Avalanche as it aims to open up Web3 to a wider audience. It should lower the barriers to entry for crypto-curious users interested in exploring Avalanche apps but unsure of how to easily acquire cryptocurrencies.
