Payments Giant Stripe Rolls Out New Fiat-to-Crypto Onramp To Make Digital Asset Purchases More Convenient

Payments processing firm Stripe is launching a new hosted fiat-to-crypto onramp in an effort to make digital asset purchases easier.

In December, the payments giant rolled out an embeddable fiat-to-crypto onramp for Web3 developers.

Now, in addition to that product, Stripe is also offering a hosted onramp available at crypto.link.com.

Web3 companies can direct their US-based customers to the link without the need for any access code, according to a new press release.

Explains Stripe,

“Companies interested in offering cryptocurrency- and blockchain-enabled experiences often face a cold start problem: Their customers don’t have the crypto in their wallets to carry out transactions. Stripe’s onramp allows customers to purchase crypto at the precise moment they need it. They could purchase Ethereum, for example, and immediately use it to buy an NFT (non-fungible token).”

Guillaume Poncin, Stripe’s head of engineering for crypto, says Web3 companies can use the hosted onramp to outsource crypto payment processing requirements like conversion, authorization optimization, fraud prevention and identity verification.

“We received thousands of requests for our fiat-to-crypto onramp since our launch in December. Talking to our pilot users, we learned that speed to launch was key. They also wanted to redirect consumers to an external-hosted onramp separate from their applications.”

Generated Image: Midjourney