Even after a few difficult weeks for crypto, Stripe announced a decentralized crypto onramp for developers Thursday afternoon.
Powered by Zero Hash, Stripe announced a solution with just ten lines of code through a blog and Twitter post.
“We built our fiat-to-crypto onramp to remove this complexity. The onramp is a customizable widget that developers can embed directly into their DEX, NFT platform, wallet, or dApp,” Jennifer Lee at Stripe product said. “Stripe handles all the KYC, payments, fraud, and compliance, removing the need to integrate multiple third-party services.”
She said in a move consistent with Stripe’s focus on simplicity and developer experience. The tech comes down to just ten lines of code.
Lee said Stripe’s fiat-to-crypto onramp has already launched with various partners. Orca, a Solana-based decentralized exchange in need of some good news after the hit Solana took this past month, proudly announced the feature of the new onramp.
Forrest Browning, the co-founder of Audius, a blockchain-based music streaming platform, said they chose the onramp to enable musicians to earn revenue on the forum.
“We’re incredibly excited to introduce monetization into our product using Stripe’s onramp,” Browning said. “The industry was in dire need of a cheap, customizable crypto onramp, and we finally have the product we’re looking for.”
Jack Lu, co-founder, and CEO of Magic Eden, an NFT marketplace, said they use the onramp to enable seamless purchases.
More from Zero Hash?
Zero Hash is a B2B2C embedded infrastructure platform that helps integrate digital assets natively into the customer experience quickly and easily. Zero Hash Powers Curves Crypto Credit card rewards. The firm also powers BlockFi crypto reward cards to serve customers now up for grabs.
A spokesperson for Curve could not share the transaction details now under NDA. Curve showed interest in purchasing BlockFi’s 80,000-plus credit card customers left out in the rain after the firm declared bankruptcy following the FTX blowup.
Zero Hash Liqudity Services LLC is licensed to engage in virtual currency business activities by the New York State Department of Financial Services. Despite the local carnage, Lee said Stripe is still optimistic about Web3 and crypto.
The pain is not just hitting cryptocurrencies; at the beginning of November, Stipe said it would cut 1,000 from its headcount, or 14% of employees.
“We’re excited about the future of crypto and Web3, and we’re dedicated to creating powerful developer experiences to support it,” Lee said. “Launching the onramp, we’re building upon years of experience optimizing conversion, enabling custom checkout flows, mitigating fraud, and handling KYC for millions of companies building on Stripe.”
