Stripe unveils new crypto to fiat feature


TL;DR Breakdown

  • Stripe rolls out crypto to fiat feature for users
  • Companies tap GTPN to make payments
  • The company plans to explore the Web3 ecosystem

Over the last few weeks, the crypto market underwent one of the most torrid periods ever witnessed since its inception. However, despite these challenges, the market remains primed for new products and services. One perfect example was the transition of Ethereum that took place some weeks ago. The change showed how great open-source technology is to many projects across the crypto market. Overall, these innovations indicate that digital assets can become one of the tools that can simplify financial payments.

Companies are tapping the GTPN to make payments

In the last few years, Stripe has championed the cause of global payments, providing a breeding ground to companies using its Global Payments and Treasury Network. Some of these services include its partnership with Nifty, enabling creators to list and accept payments for their works seamlessly. The company has also infused the GPTN with the ability to make transactions using crypto.

Asides from rolling out the services to over 60 countries, Stripe has announced a new fiat-to-crypto onramp that will serve developers in the Web3 ecosystem. Blockchain provides many basic uses for developers and users across the crypto market. However, Web3 developers still need help accessing proper services. One of the most tasking features for Web3 developers is the issue of finding their wallets with assets to interact with interfaces.

Stripe wants to continue to explore the Web3 ecosystem

The new fiat-to-crypto onramp was built to eliminate system complexity issues. This way, developers can design or customize them in any way they feel and integrate them into several platforms across the crypto market. Stripe is in charge of the majority of the back end of the platform, with the company eliminating fraud while handling other services. Users will also be able to leverage the onramp for services in the crypto market, opening the way for easy settlements and smooth conversions.

The service is designed to save user details in a one-time fashion so that they link their information anytime they want to check out. This new service will provide easy access to games in the Web3 ecosystem as players can top up their wallets and continue their games on the go. In addition, musicians leveraging the Audius platform can use the services to maximize their income from music streams. The company mentioned that it was excited about what lies in store for the Web3 ecosystem and would continue to do everything possible to explore it.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

Related News

Hot Stories

Avalanche price analysis: AVAX begins correction after topping $20 resistance
DOJ backs move to stop SBF from accessing FTX and Alameda resources
Litecoin price analysis: Bearish pulls LTC down to $90.34 aftermarket crash
Elon Musk says Twitter payment will use fiat, but crypto will be implemented later
Ripple and the Central Bank of Montenegro are creating a CBDC

Follow Us

Industry News

DOJ backs move to stop SBF from accessing FTX and Alameda resources
Elon Musk says Twitter payment will use fiat, but crypto will be implemented later
Binance and Mastercard to launch crypto card in Brazil
Hermes set to commence trademark infringement trial
UK regulator targets FTX-linked charity

Add Your Heading Text Here