Stablecoin, Yield, and Custody News for Week of May 7th, 2023.
Biggest story of this week is the announcements from several large global fintech companies around plans to launch fiat on-off ramps into crypto. Most notable announcement is from Stripe, who announced last week that they would be launching a Stripe-hosted fiat on-off ramp that can be embedded for use. By the use of either an embeddable solution into a payment system or a Stripe-hosted link that you can re-direct users to, this solution aims to provide users with a clean and easy method for moving from fiat into cryptocurrency and back.
This news is also on the back of two other major fintech firms announcing similar products in late April at Consensus. Venmo announced that they are planning on enabling fiat-to-crypto payments in May, meaning that you can both buy crypto in Venmo and send it to other Venmo users. Robinhood also announced that they are launching Robinhood Connect, a low-cost ramp with developer integration to allow users to purchase crypto with their debit or credit cards.
More news from this week:
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