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.
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