Stripe Launches Fiat-to-Crypto Widget | PYMNTS.com

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Pay­ments proces­sor Stripe now offers a wid­get that pro­vides a fiat-to-cryp­to onramp. 

When the new cus­tomiz­able wid­get is embed­ded into a decen­tral­ized exchange (DEX), non-fun­gi­ble token (NFT) plat­form, wal­let or decen­tral­ized appli­ca­tion (dApp), Stripe han­dles know-your-cus­tomer (KYC), pay­ments, fraud and com­pli­ance, accord­ing to a Thurs­day (Dec. 1) blog post on the company’s website. 

“Con­sis­tent with our focus on sim­plic­i­ty and devel­op­er expe­ri­ence, you can inte­grate it with just 10 lines of code,” Stripe Prod­uct Man­ag­er Jen­nifer Lee wrote in the post. 

The wid­get is designed to solve the com­plex­i­ty Web3 devel­op­ers have faced when work­ing to enable end users to fund their wal­lets with cryp­to. These chal­lenges include cop­ing with fraud and KYC require­ments while also pro­vid­ing a seam­less expe­ri­ence for the end users of their Web3 appli­ca­tions, Lee wrote in the post. 

“We built our fiat-to-cryp­to onramp to remove this com­plex­i­ty,” Lee wrote. 

For end users, it pro­vides a seam­less check­out expe­ri­ence and instant set­tle­ment of cryp­to. When they save their pay­ment and iden­ti­ty infor­ma­tion to Link, end users will get one-click check­out on future pur­chas­es across any Link-enabled Stripe sur­face, Lee wrote. 

The new onramp has already been deployed by 16 part­ners, accord­ing to Stripe. 

Accord­ing to the post, the onramp is now avail­able to U.S. cus­tomers and will be avail­able to oth­ers over time. 

Not­ing in the post that it’s been a tough few weeks for those in the cryp­to ecosys­tem, Lee wrote that Stripe remains excit­ed about the prospects for innovation. 

“Over­all, we main­tain fun­da­men­tal opti­mism about how cryp­to can help to facil­i­tate a more glob­al­ly acces­si­ble finan­cial ser­vices ecosys­tem,” Lee wrote. 

In relat­ed news, Stripe announced in April that it had added sup­port for cryp­to pay­ments on its Stripe Con­nect plat­form, with Twit­ter as the first customer. 

The com­pa­ny said at the time that the prod­uct is aimed at cre­ators, free­lancers, sell­ers and solopreneurs. 

For all PYMNTS cryp­to cov­er­age, sub­scribe to the dai­ly Cryp­to Newslet­ter.

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Con­ve­nience dri­ves some con­sumers to store their pay­ment cre­den­tials with mer­chants, while secu­ri­ty con­cerns give oth­er cus­tomers pause. For “How We Pay Dig­i­tal­ly: Stored Cre­den­tials Edi­tion,” a col­lab­o­ra­tion with Ama­zon Web Ser­vices, PYMNTS sur­veyed 2,102 U.S. con­sumers to ana­lyze con­sumers’ dilem­ma and reveal how mer­chants can win over holdouts.

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