AMM has announced a new Stripe integration that will strengthen the fiat-to-crypto transition to make decentralized finance (DeFi) more accessible to users both inside and outside the existing ecosystem. This new integration now enables fiat purchases along with the transition from fiat currency to crypto. Users can now purchase SPL tokens with fiat currencies, including USD Coin (USDC) and Solana (SOL).
According to Orca co-founder Ori Kawn, the new integration helps provide broader access to economic tools. “With this new integration, we hope to make participation in the DeFi ecosystem even more accessible to the entire Solana community,” Kawn said. said. The Orca integration also marks one of Stripe’s first blockchain-based integrations.
Stripe announced last March that it has launched fiat payment support for cryptocurrencies and NFTs, as well as partnering with FTX, FTX US, Blockchain.com, Nifty Gateway and Just Mining to launch a crypto business suite. The company also collaborated with Twitter in April 2022 to create a USDC-based payment program for creators through the Polygon network. The development in question comes after the entire crypto industry rebounded after the collapse of crypto exchange FTX.
Solana was one of the many companies in the industry that felt the effects of the market crisis. In addition, the overall value of the ecosystem’s native token SOL was hit hard, falling 32.4 percent on November 10. The ecosystem has also received encouragement from key players in the industry such as Polygon co-founder Sandeep Nailwa to continue building the value of the Solana network.