Stripe tackles ‘cold start problem’ with the launch of fiat-to-crypto on-ramp

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Stripe has launched a fiat-to-crypto on-ramp to address the 'cold start problem' that Web3 companies experience owing to clients lacking 'crypto in their wallets to carry out transactions.'

Implementing the new on-ramp service aims to support Web3 companies by providing a user-friendly way for customers to top up their crypto wallets. It stated:

Several Web3 companies, including privacy-focused browser Brave, decentralized finance protocol 1inch and blockchain protocol Lens Protocol, have already implemented Stripe’s fiat-to-crypto on-ramp, according to the statement. Meanwhile, 1inch co-founder Sergei Kunz highlighted the importance of building “bridges between Web2 and Web3,” adding that Stripe’s experience with Web3 companies makes it “well positioned to help.“Speaking to Cointelegraph, Ohm Shah, co-founder of Wallet Guard, stated that Stripe’s new offering could “allow for many people to easily enter into Web3.”

 

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