Stripe Have A Go On Fiat-Crypto Conversion

Stripe, a payment firm, has started a project to initiate fiat-crypto conversion for merchants across the globe. It will be available as a customizable widget that can be embedded into the DEX (decentralized exchange), platforms working on NFT (non-fungible tokens), or decentralized apps where people can purchase cryptocurrencies through Web3 apps. 

Most of these projects are on Solana, as it offers customizable KYC handles, compliance, and fraud monitoring. 

Eleven of the company’s initial 16 projects are built on Solana. Stripe said it offers customizable on-ramping services and handles know-your-customer (KYC), payments, fraud, and compliance issues.

Stripe has partnered with cryptocurrency companies in 67 companies that support USDC payments. 

The first one to use Stripe’s new product is Audius (a decentralized music platform). Here people can use their credit cards to purchase tokens and tip their favorite performers. Decentralized exchange Orca is also using these platforms.