Stripe will support Avalanche's efforts to add funds and users to ecosystem

Avalanche AVAX -0.19% announced today it has forged an integration with the fintech Stripe to streamline consumers' ability to both add funds to their wallet and purchase digital assets.

"Core, Avalanche's native ecosystem wallet ... has integrated Stripe’s onramp, giving users more ways to purchase assets on the Avalanche blockchain," the company said in its statement . "Core users can select the Stripe onramp to fund their wallets using ACH, debit, and credit cards."

After staying out of the world of crypto for years, Stripe last week said it would support transactions for the USDC -0.10% stablecoin. The company stopped supporting bitcoin in 2018, citing the cryptocurrency's volatile price action as a cause for concern.

John Egan, Stripe's head of crypto, said working with Avalanche is "closely aligned" with the company's "goal of making it safe and easy for everyone to access the power of web3,” according to the announcement.

The fintech will manage all KYC, issues with fraud, and compliance, the announcement also said.

Avalanche appears hopeful the Stripe integration will help bring more capital into its ecosystem.

"Stripe’s onramp will provide a direct way for users to easily and quickly fund their wallets with AVAX and other supported tokens," the company said.

Stripe will support Avalanche video games

Avalanche said some "ecosystem partners" have already said they plan to utilize Stripe's onramp capabilities. Those partners include SocialFi platform The Arena, and video games "Shrapnel" and "DeFi Kingdoms," according to the announcement.

Akash Gupta, head of consumer products at Ava Labs, the firm behind the Avalanche blockchain, said the integration will help "pave the way for seamless onboarding and broader consumer adoption of digital currencies in everyday transactions.”

"Available to U.S. Stripe’s fiat-to-crypto onramp is a customizable widget embedded into Avalanche dApps, such as DEXes, NFT platforms, and digital wallets," the announcement also said.