According to PANews, payment technology company Stripe appears to be making a full-scale entry into the cryptocurrency sector, as it announced its integration with Avalanche today. This news comes just a week after Stripe announced that companies using its technology could accept the USD Coin (USDC) stablecoin for online payments. Today, Stripe stated that its retail customers would find it easier to enter the Avalanche ecosystem.
The development company behind the Avalanche blockchain, Ava Labs, stated that its Core wallet would use Stripe's fiat-to-cryptocurrency conversion service. In simpler terms, this integration will allow users to seamlessly access typically less popular cryptocurrency products and decentralized applications, such as decentralized exchanges and NFT platforms running on Avalanche.
The announcement stated that a widget would be installed in Core, allowing anyone to purchase Avalanche's native AVAX tokens using a debit or credit card, without having to go through an exchange. Stripe will be responsible for handling all matters related to KYC.