Stripe Expands Crypto Market Position Through Avalanche

The integration will allow AVAX users to quickly swap from fiat to crypto using Stripe's onramp feature.

Stripe is solidifying its full-scale entry into the crypto market by integrating with Avalanche (AVAX).

According to Ava Labs, the development company behind Avalanche, the Core wallet will leverage Stripe’s fiat-to-crypto onramp to facilitate the conversion of fiat currency into cryptocurrencies.

Specifically, Core users can select the Strip onramp feature to fund their wallets using ACH, debit, and credit cards. This allows them to fund their wallets quickly without having to use a centralized exchange or go through bottlenecks.

Stripe's expansion into crypto continues, today integrating Avalanche & Core to provide easier access to Web3
US users can purchase $AVAX directly thru Stripe without using an exchange
Avalanche apps can embed Stripe’s onramp via customizable widget https://t.co/NIBEfQUWuP
— Avalanche (@avax) April 29, 2024

Likewise, the integration will allow users to gain access to various cryptocurrency products and decentralized applications (dApps) available on the Avalanche blockchain, including decentralized exchanges (DEXs) and non-fungible token (NFT) platforms. Several dApps and partners from Avalanche, including Shrapnel and DeFi Kingdoms, have announced their integration with Stripe.

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 —said John Egan, Head of Crypto at Stripe.

Stripe has been absent from the cryptocurrency world for around six years. The firm resumed its crypto journey recently when it announced its crypto payments services relaunch.

Last week, the San Francisco-based firm announced the expansion of its payment options by allowing companies using its technology to accept USDC for online payments. As CryptoMode reported, the stablecoin flipped USDT in transactions.