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Home»ADOPTION NEWS»Stripe will support Avalanche’s efforts to add funds and users to the ecosystem
ADOPTION NEWS

Stripe will support Avalanche’s efforts to add funds and users to the ecosystem

By Crypto FlexsApril 29, 20242 Mins Read
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Stripe will support Avalanche’s efforts to add funds and users to the ecosystem
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avalanche Avex

-0.12%
Today the company announced that it has built an integration with fintech Stripe to streamline the ability for consumers to add funds to their wallets and purchase digital assets.

“Core, Avalanche’s native ecosystem wallet, integrates Stripe’s onramp, giving users more ways to purchase assets on the Avalanche blockchain,” the company said in a statement. “Core users can choose Stripe onramp to fund their wallets using ACH, debit and credit cards.”

Stripe last week after being out of the cryptocurrency world for several years. It said it would support the deal. USDC

-0.023%
Stablecoin. the company discontinued support for Bitcoin in 2018, citing the cryptocurrency’s volatile price movements as a cause for concern.

Stripe’s head of cryptocurrency, John Egan, said that working with Avalanche is “closely aligned” with the company’s “goal of making the power of web3 securely and easily accessible to everyone,” according to the announcement.

The fintech announced that it will manage all KYC, fraud issues and compliance.

Avalanche expects the Stripe integration will help bring more capital into the ecosystem.

“Stripe’s onramp will provide a direct way for users to quickly and easily fund their wallets with AVAX and other supported tokens,” the company said.

Stripe supports Avalanche video games

Avalanche said some “ecosystem partners” are already planning to leverage Stripe’s onramp functionality. According to the announcement, these partners include SocialFi platform The Arena and video games “Shrapnel” and “DeFi Kingdoms.”

Akash Gupta, head of consumer products at Ava Labs, the company behind the Avalanche blockchain, said the integration “will help pave the way for seamless onboarding and widespread consumer adoption of digital currencies in everyday transactions.”

“Available on US Stripe’s fiat-to-crypto onramp are custom widgets built into Avalanche dApps such as DEXs, NFT platforms, and digital wallets,” the release said.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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