Recently, the Avalanche C-Chain network forged a partnership with payment giant Stripe, allowing verified Stripe users to buy Avalanche’s AVAX cryptocurrency and move it to their wallets.
Ava Labs, the brains behind the Avalanche network, unveiled this collaboration in a blog post on April 29. Moreover, eight Web3 applications on Avalanche have tapped into Stripe’s platform.
According to the blog, Avalanche app developers can now incorporate a customizable widget into their interfaces. This widget empowers users to switch from fiat currency to cryptocurrency using Stripe’s platform. Several apps have already jumped on board, including the Avalanche Core portfolio app, staking protocol GoGoPool, Avvy username service, social media platform The Arena, NFT marketplace Zeroone, Halliday wallet, web development platform Pakt, and blockchain games DeFi Kingdoms and Shrapnel.
The main goal of this integration is to tackle the “cold start problem” in Web3, where users lack enough funds in their wallets to kickstart transactions on the platform. Stripe will manage KYC (Know Your Customer) processes, payments, fraud detection, and compliance, freeing up developers to focus on their applications. With this integration, Core portfolio users can now set up Avalanche accounts using their Google or Apple ID and load them up via bank transfers, debit cards, or credit cards.
Akash Gupta, head of consumer products at Ava Labs, believes this collaboration will propel global cryptocurrency adoption. He remarked, “Core’s integration with Stripe is just another step that underscores our dedication to providing users with intuitive, and streamlined solutions. By further bridging the gap between crypto and fiat, Core continues to pave the way for seamless onboarding and broader consumer adoption of digital currencies in everyday transactions.”
