Orca has partnered with Stripe to provide fiat-crypto transactions in Web3 apps. With Stripe, blockchain-based games can use Stripe’s new widget (also called onramp) to onboard players and let them fund their wallets. The widget is customizable, can be embedded into any product, and will eliminate the need to combine third-party services that exchange fiat and crypto.
Stripe is one of the largest payment processing platforms and commerce solutions for internet businesses. It is integrated into products from brands, like Apple and Walmart. In 2018, Stripe ceased crypto transactions. But since April this year, it has ventured into the digital assets space; first, providing Twitter cryptocurrency payouts via Polygon and offering a variety of services to exchanges, onramps, wallets, and NFT marketplaces. Its recent partnership with Orca could accelerate crypto adoption and make blockchain payments more mainstream.
Built for people, Orca is one of the most user-friendly cryptocurrency exchanges on the Solana blockchain – and an excellent choice for the onramp fiat-crypto transactions. Orca was launched in February last year and lets users trade Solana SPL tokens through its automated market maker. The protocol is easy and fast because you just need smart contracts to execute trades. Orca differentiates itself from other Solana exchanges by constantly enhancing user experience.
In a blog post, Stripe stated that “Today, it’s extremely difficult to get end users ‘on chain’—that is, to fund their wallets with the crypto required to interface with Web3 applications. For end users, the onramp is a seamless checkout experience, optimized for conversion, allowing for instant settlement of crypto.” as their motivation for creating this new widget.
Stripe’s fiat-to-crypto onramp is already in apps like Audius, a blockchain-based music streaming platform that enables musicians to earn revenue. Magic Eden uses the onramp to make NFT transactions a lot easier. While onramp helps Argent wallet holders quickly top up with Ethereum. To integrate this most recent Stripe fiat-to-crypto payout option, sign up here.