According to a statement Payment processor Stripe launched a fiat to crypto payment service for Web3 businesses on Thursday, December 1, 2022.

KEY TAKEAWAYS

Customers will be able to buy cryptocurrencies instantly in Web3 apps using the fiat-tocrypto service.
These services provide an easy Fiat to Crypto onramp.
Stripe is a new widget that can integrate into Web3 platforms/apps.

Web3 developers will have the ability to integrate Stripe’s new widget into non-fungible token platforms (NFT), decentralized exchanges (DEXs), crypto wallets and other decentralized apps. Customers will be able to buy cryptocurrencies instantly in the Web3 apps.

According to Stripe the new product offers flexible onramping services, manages Know-Your-Customer (KYC), and addresses compliance challenges. Stripe claims that the new product was developed to eliminate any complications.

Partnerships with Stripes have increased

Stripe has seen an increase in partnerships between crypto firms over the past year as more countries accept cryptocurrency payments.

USDC is one of the most popular cryptocurrencies, with corporations being able transfer USDC payments worldwide.

One of the recent Stripe partnerships is its partnership with the decentralized music discovery network Audius, making Audius one of the first companies to use Stripe’s new on-ramp. Audius announced that it accepted Stripe’s payment solution to allow users to use their credit cards to purchase their native AUDIO coin and tip their favourite musicians.