Avalanche C-Chain, a network developed by Ava Labs, has partnered with Stripe, a payment firm, to enable verified Stripe users to purchase AVAX, the cryptocurrency of Avalanche, and send it to their wallets. This integration was announced in a blog post on April 29. In addition to this collaboration, eight Avalanche Web3 apps have also been integrated with the Stripe platform.
The blog post explains that developers of Avalanche apps can now incorporate a customizable widget into their interfaces, providing users with the ability to convert traditional fiat currency to cryptocurrency through Stripe’s platform. So far, eight apps have announced their intention to integrate this widget. These include the Avalanche Core portfolio app, staking protocol GoGoPool, Avvy username service, social media platform The Arena, nonfungible token (NFT) marketplace Zeroone, Halliday wallet, web development platform Pakt, and blockchain games DeFi Kingdoms and Shrapnel.
This integration aims to address the “cold start problem” in Web3, which occurs when users do not have sufficient funds in their wallets to perform transactions on the platform. Stripe will handle all aspects of KYC (know your customer), payments, fraud prevention, and compliance, freeing up developers to focus on their apps. With the launch of this integration, Core portfolio users can create Avalanche accounts using their Google or Apple ID and fund them with bank transfers, debit cards, or credit cards.
Akash Gupta, the head of consumer products at Ava Labs, expressed his belief that this integration will contribute to the wider adoption of cryptocurrencies worldwide.
In addition to the partnership with Avalanche, Stripe also announced on April 25 that it will integrate stablecoin payments using Circle’s USD Coin (USDC) on Solana, Ethereum, and Polygon.
Source:
Avalanche
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