Stripe Forms Strategic Partnership with Avalanche, Allowing Users to Buy AVAX Directly
In a move to further expand its presence in the crypto market, financial service provider Stripe has entered into a strategic relationship with blockchain network Avalanche. Avalanche recently announced the integration with Stripe, enabling customers to purchase AVAX directly through the popular payment platform. This integration is particularly significant as it eliminates the need for users to rely on the complex services provided by cryptocurrency exchanges.
Rumors had been circulating within the industry that Stripe would reintroduce cryptocurrency payments this summer, with a focus on the USDC stablecoin linked to the US dollar, operating on the Solana, Ethereum, and Polygon blockchains. Stripe co-founder John Collison asserts that the reintroduction of cryptocurrency settlements has greatly enhanced the company’s service offerings to its customers.
The streamlined process developed by Stripe, which allows for the conversion of fiat currency to cryptocurrency, has been seamlessly integrated into Avalanche’s ecosystem. This integration is a key component of the new partnership between the two entities and is specifically implemented within Avalanche’s Core wallet. Users now have multiple funding options for their wallets, including ACH transfers and debit/credit cards.
Avalanche and Stripe have collaborated to implement these features through the integration of a user-configurable widget into various platforms such as DEXes, NFT platforms, and digital wallets developed by Avalanche.
To create a Core wallet, users simply need to complete basic authentication forms, similar to those used for Gmail or Apple ID. Once authenticated, purchasing AVAX through the Core extension or web app using Stripe is a seamless experience. It is worth noting that this integration addresses the initial funding challenge faced by new users when joining the Web3.0 ecosystem.
In other crypto news today, it has been reported that the Lazarus Group has been posing as a Fenbushi executive on LinkedIn for cyber-hacking purposes.