Stripe has presented its new product that makes it easier to hold crypto coins that do not require registration on any crypto currency exchange.
Fiat-to-Crypto Onramp Widget
The new onramp widget developed by Stripe can be embedded in any crypto product, so users can enter their card information and receive cryptocurrency that they can use in another Web3 product. This is not the first time has made this product, which facilitates the transition from fiat to crypto for Web3 developers. Companies such as Moonpay and Ramp already have widgets that perform these functions.We know that Web3 developers and users have to fight many scams.
Embedded Product
This product, which was created to create this complexity, is an embed product that developers can place directly on DEX, NFT platforms, wallets and dApps. The resulting KYC eliminates problems and services that would be generated by a third party, such as payments and scams. You can integrate it according to yourself with just 10 lines of code.
Crypto Market Effect
We know that after the decline experienced by the crypto world and especially the FTX disaster, trust in centralized exchanges has decreased. We can say that these widgets, which may be a way to avoid centralized exchanges, are good news for the crypto money market. Thanks to the product developed by the firm, you can quickly convert the specified amount of fiat money to whichever cryptocurrency you want to convert, without setting up any brokerage or exchange. For this, the platform charges certain fees. This Widget developed by Stripe is currently only accessible to US users. Over time, this access is expected to be expanded.
About Stripe
Stripe was founded in 2010 by brothers John and Patrick Collison. Headquartered in San Francisco, the company offers web developers, the applications they develop, and the process of creating a payment system thanks to APIs available on Stripe platforms. By integrating Stripe APIs, developers can get paid in a matter of minutes. It was created to correct this problem by recognizing the difficulty of receiving payments on the web. In addition to paying transactions, the platform also offers many side product support to businesses and developers for the sustainable operation of the system they have installed.
Leave a comment