In just 10 lines of code, the Stripe fiat-to-crypto onramp widget can be embedded by developers into their crypto platforms.
Issues of onramping fiat to crypto
An issue for developers of crypto projects over many years has been how to onramp fiat so that users can buy tokens in order to use the utilities offered by the platform.
It’s usually been up to the users themselves to find an exchange that will accept their fiat currency, and the likelihood is that they may have then had to buy a stablecoin, or perhaps BTC, and send it to yet another exchange that lists the particular token they need, they would then have had to swap it into the native token they need before finally sending it to the crypto platform.
Of course, crypto is only around 14 years old and users of the ecosystem have had to be fairly savvy in how they onramped their fiat currency and how they bought the various cryptocurrencies.
The Stripe solution
Until now that is. Stripe has developed a simple fiat-to-crypto onramp widget containing just 10 lines of code. It is fully customisable and allows developers to embed it into their DEX, NFT platform, wallet, or dApp.
Source: Stripe blog article
Compliance with KYC and AML regulations are other hurdles that crypto onramp exchanges have had to deal with. However, the Stripe solution handles all of this and provides the user with a seamless checkout experience.
Users store their payment and identity information to Link, which will then give them a one-click checkout experience for purchasing crypto at any Link-enabled entity across the Stripe ecosystem.
Stripe already has partners that are using their customisable onramp. Audius is a blockchain-based music streaming platform. Forest Brown, co-founder of Audius said of the Stripe onramp:
“We’re incredibly excited to introduce monetization into our product with the use of Stripe’s onramp,” said Forrest Browning, co-founder of Audius. “The industry was in dire need of a cheap, customizable crypto onramp, and we finally have the product we’re looking for.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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