Stripe, a leading financial infrastructure platform, has expanded its services by integrating the Avalanche C-Chain, allowing retail users to purchase AVAX directly through Stripe without relying on crypto exchanges. This development was announced today via a press release.
The integration leverages Avalanche’s native wallet, Core, developed by Ava Labs, which has incorporated this feature. Users can now fund their wallets using various payment methods like ACH transfers, debit cards, and credit cards.
Stripe’s onramp can be accessed through Core’s web extension or application, offering a user-friendly signup process via Gmail or Apple ID.
The initiative aims to address the “cold start problem” encountered by many web3 companies, where users may lack sufficient funds to transact on platforms. Stripe’s solution handles KYC, payments, fraud, and compliance, providing a seamless entry point into the Avalanche ecosystem.
Several key partners within the Avalanche ecosystem, including GoGoPool, Avvy, Pakt, zeroone, Halliday, The Arena, Shrapnel, and DeFi Kingdoms, have announced plans to integrate Stripe’s onramp. This collaboration is expected to bridge the gap between web2 and web3, attracting new users to blockchain technology.
Akash Gupta, Director of Consumer Products at Ava Labs, highlighted that Stripe’s integration enhances Core’s functionality and user experience, aiming to facilitate broader consumer adoption of digital currencies.
John Egan, Head of Crypto at Stripe, expressed excitement about the partnership, emphasising Stripe’s commitment to making it safe and easy for everyone to access Web3 and participate in Avalanche’s dApp ecosystem.