Stripe has signed a strategic relationship with blockchain network Avalanche, which now allows customers to buy AVAX directly.
Available in the U.S, Stripe’s fiat-to-crypto onramp is a customizable widget embedded into Avalanche dApps, such as DEXes, NFT platforms, and digital wallets.
Core, Avalanche’s native ecosystem wallet and portfolio developed by Ava Labs, has integrated Stripe’s onramp, giving users more ways to purchase assets on the Avalanche blockchain. Core users can select the Stripe onramp to fund their wallets using ACH, debit, and credit cards.
Those interested can create a Core wallet using their Gmail or Apple ID and buy Avax through Core’s extension or web app core.app.
Stripe aims to address the “cold start problem” faced by Web3 companies, which occurs when customers don’t have enough funds in their wallets to carry out transactions on the platform. Stripe handles all the KYC, payments, fraud, and compliance.
Stripe’s onramp will provide a direct way for users to easily and quickly fund their wallets with AVAX and other supported tokens, and several leading Avalanche ecosystem partners have already indicated that they will be integrating with Stripe, including:
- GoGoPool, a permissionless staking protocol built for Avalanche Subnets that lowers the cost of running a validator node via liquid staking and minipools
- Avvy, a decentralized naming service designed to support the Avalanche ecosystem and its various subnets
- Pakt, the Blockchain Business Stack that empowers enterprises and entrepreneurs to spin up blockchain-powered platforms in just 10 minutes via their “WordPress for Web3” suite
- zeroone, a cultural discovery and distribution platform that streamlines creative authentication, monetization, and ownership using blockchain technology
- Halliday, an Intent Orchestration Protocol that enables users to onramp funds via Stripe to any token on any subnet
- The Arena, a next-gen SocialFi platform redefining how creators connect, engage, and monetize their content
- Shrapnel, the highly anticipated web3 game, is a AAA first-person extraction shooter with a creator ecosystem that empowers players to own their creations and shape the future of the game
- DeFi Kingdoms, a cross-chain fantasy RPG game with pixel art, tokenized resources, and Hero NFTs integrated with DeFi protocols.
With the Stripe widget, projects can bridge the adoption gap between Web2 and Web3 to onboard a new subset of users.
“Core’s integration with Stripe is just another step that underscores our dedication to providing users with intuitive, and streamlined solutions,” said Akash Gupta, Head of Consumer Products at Ava Labs.
”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.”
Stripe co-founder John Collison claims that the return of cryptocurrency settlements has greatly improved the service the company provides to its customers.
Users who are interested in creating a Core wallet will just have to fill out basic authentication forms, such as those for Gmail or Apple ID. Following that, using the Core extension or web app to purchase AVAX is a breeze using Stripe.
John Egan, Head of Crypto at Stripe said:
“We’re excited to add AVAX into our onramp’s family of supported networks. Further enabling consumers to onboard into Avalanche’s growing dApp ecosystem is closely aligned to our goal of making it safe and easy for everyone to access the power of Web3,”
