Stripe Launches New Fiat-to-Crypto Onramp – Convert Easily!
• Stripe announced the launch of a fiat-to-crypto onramp to streamline process the for Web3 companies.
• The new offering includes built-in fraud tools and identity verification to support companies in meeting KYC and compliance checks.
• It follows December’s release of a fiat-to-crypto widget that can be embedded in any crypto product.
Stripe Launches Fiat-to-Crypto Onramp
Payment giant Stripe announced the launch of a fiat-to-crypto onramp to streamline process the for Web3 companies to enable US-based customers to purchase crypto. The company will also be opening the onramp to all Web3 users, in addition to the ones who joined the waitlist over the last few months.
Optimizing Conversion and Authorization Rates
The onramp, whether embedded on a company’s site or hosted by Stripe, focuses on optimizing conversion and authorization rates. Such a mechanism in place makes it more likely that legitimate purchases go through.
Built In Fraud Tools and Identity Verification
The new offering includes built-in fraud tools and identity verification to support companies in meeting KYC and compliance checks necessary to prevent manipulation and fraud.
Fiat To Crypto Widget
This follows December’s release of a fiat-to-crypto widget that can be embedded in any crypto product allowing users to enter their card information and acquire crypto that can be used in another web3 product.
Raising $6.5 Billion at Valuation of $50 Billion
Earlier this year, Stripe revealed signing agreements to raise more than $6.5 billion at a valuation of $50 billion with existing shareholders participating in the round as well as investors including Fidelity Management & Research Company LLC, Wellington Management Company LLP, Franklin Templeton Investments, D1 Capital Partners LP, Sands Capital Ventures LLC, Baillie Gifford & Co., Lone Pine Capital LLC, Durable Capital Partners LP and Senator Investment Group LP