Blockchain developments continue to make headlines. Accordingly, a blog post dated April 29 by Avalanche developer Ava Labs states that the Avalanche C-Chain network has integrated with payment company Stripe, allowing verified Stripe users to purchase AVAX and send it to their wallets. Eight Avalanche Web3 applications were also integrated into the platform.
Significant Step from Ava Labs Team
According to the post, Avalanche application developers can now place a customizable widget on their interfaces, thus enabling users to convert fiat currencies to crypto through the Stripe platform.
The Avalanche Core portfolio application; staking protocol GoGoPool, Avvy username service, social media platform The Arena, NFT marketplace Zeroone, Halliday wallet, web development platform Pakt, blockchain gaming projects DeFi Kingdoms and Shrapnel announced they would integrate the widget.
The post mentioned that the integration addresses the cold start problem in the Web3 space, where customers do not have enough funds in their wallets to transact on the platform. To solve this issue, Stripe will handle the entire KYC process, payments, fraud incidents, and compliance, allowing the developer to focus on the application itself.
Noteworthy Details About the Process
Initially, the integration allows Core portfolio users to create Avalanche accounts using their Google or Apple IDs and fund them via bank transfers, debit cards, or credit cards. Ava Labs’ President of Consumer Products, Akash Gupta, stated that the integration with Stripe will help increase global crypto adoption, noting:
“Core’s integration with Stripe is another step that underscores our commitment to providing intuitive and streamlined solutions. Core continues to bridge the gap between crypto and fiat, facilitating the seamless adoption of cryptocurrencies in daily transactions and broadening consumer adoption of cryptocurrencies.”
On April 25, Stripe also announced it would integrate stablecoin payments using Circle’s USDC token on Solana, Ethereum, and Polygon.
