Stripe Integrates Avalanche to Drive AVAX Web3 Adoption
Avalanche announced its integration into the Stripe financial platform, which will run on the C-Chain, allowing users to purchase AVAX with bank cards. Avalanche’s wallet, Core, integrated Stripe, where Avalanche users will be able to select Stripe as their cryptocurrency purchasing option. The Stripe news was celebrated by the market, as the price of AVAX went from $32.93 to $35.77, an increase of 4.14%.
Avalanche announced its integration into the financial platform Stripe, which recently resumed its cryptocurrency payments after six years. The platform now supports the C chain, which will allow users to purchase the AVAX token from Stripe and will only be available to users in the United States for now.
The partnership will allow Stripe to drive Web 3.0 adoption, as the platform’s fiat-to-crypto gateway functions as a customizable widget embedded in Avalanche’s decentralized applications (dApps), and offer DEXes, digital wallets, and non-fungible token services (NFT).
Stripe Integrates Avalanche and AVAX Token Celebrates It After Bearish Period
Avalanche’s Core wallet has integrated Stripe, where Avalanche users will be able to select Stripe as their cryptocurrency purchase option with payment gateway supported methods such as debit and credit cards.
Meanwhile, developers will be able to incorporate applications from various Avalanche projects, through the Stripe widget, such as: GoGoPool, AVVY, Pakt, Zeroone, Halliday, The Arena App, SHRAPNEL and the DeFi game Kingdoms. With this, both companies seek to close the gap between Web 2.0 and Web 3.0.
In this regard, John Egan, director of Stripe’s crypto area, noted the following:
“Enabling consumers into Avalanche’s growing dApp ecosystem is closely aligned with our goal of making it safe and easy for everyone to access the power of Web 3.0.”
The news from Stripe was celebrated by the market, as the price of AVAX went from $32.93 to $35.77, an increase of 4.14% after the announcement. With this, the native AVAX token has a new rebound after a week of losses of 10.32%. Not only that, in the last month, AVAX has lost 33.38%, while its market capitalization is $12.52 billion.
Days ago, Stripe announced that it was returning to cryptocurrency payments after a six-year hiatus. Their plan was to allow traders to pay in USDC stablecoins, initially supporting blockchains such as Solana, Ethereum and Polygon.
Stripe and Avalanche Accelerate Incentives for Crypto Adoption
This strategic move marks Stripe’s significant return to cryptocurrency transactions since abandoning Bitcoin in 2018 due to its volatility. Meanwhile, Akash Gupta, director of consumer products at Ava Labs, described the integration of Core with Stripe as a new milestone:
“It underlines our dedication to providing users with intuitive and optimized solutions. By further bridging the gap between cryptocurrencies and fiat currencies, Core paves the way for seamless onboarding and broad adoption of digital currencies by consumers in everyday transactions.”
Avalanche has made several recent alliances. On April 16, it teamed up with mortgage lender Homium to launch tokenized home equity loans, which promise to provide homeowners with loans without increasing their monthly debt load, through an on-chain finance and asset tokenization scheme (OnFi).
In late March, Avalanche launched the “Diamond Standard” fund, sponsored by Horizon Kinetics and Diamond Standard, and tokenized by Oasis Pro. These, focused on the tokenization of world assets (RWA), in particular diamonds as an asset traded in the market. The fund also runs on the Avalanche C-Chain.
By Audy Castaneda