Stripe Touches Down on Solana With Orca DEX Integration
Key Takeaways
Solana-based DEX Orca has integrated Stripe for its new fiat-to-crypto onramp.
Orca users can now buy Solana SPL tokens on the exchange directly with fiat currencies.
The Orca integration is yet another instance of Stripe venturing into the digital assets space.
Share this article
The Orca onramp marks the first time Stripe has integrated with a decentralized exchange across any blockchain.
Orca Integrates Stripe
Stripe has come to Solana.
Orca, a leading Solana-based decentralized exchange, has integrated the leading payments service provider to launch a fiat-to-crypto onramp. The Orca onramp marks the first time Stripe has integrated with a decentralized exchange across any blockchain.
At launch, Orca users will be granted direct access to Stripe’s simple order flow, letting them buy crypto assets like SOL and USDC directly with fiat currency. Purchased tokens will then be transferred back to customers’ Solana wallets, where they will appear in the token panel.
“A core part of Orca’s mission is to enable broader economic access,” said Orca co-founder Ori Kawn. “With this new integration, we hope to make participating in the DeFi ecosystem even more accessible to the entire Solana community.”
Launched in February 2021, Orca lets users trade Solana SPL tokens through its automated market maker. The protocol is permissionless, meaning that smart contracts are solely responsible for executing trades. Orca aims to set itself apart from other decentralized exchanges by placing emphasis on usability. Throughout its development, the protocol has launched several notable updates, including a fair price checker and in-app improvements, to enhance its user experience.
In September 2021, Orca raised $18 million from several of the crypto space’s top venture capital firms, including Polychain, Coinbase Ventures, and Jump Capital. It has also secured integrations with other leading Solana DeFi protocols, such as Tulip, Jupiter, and SolScan.
The Orca integration is yet another instance of Stripe venturing into the digital assets space. After ceasing crypto payments in 2018, the firm recently re-entered the crypto space, piloting Twitter cryptocurrency payouts via Polygon in April. Since then, the payment services provider has signaled its support for crypto business more broadly, offering a range of services to crypto exchanges, onramps, wallets, and NFT marketplaces.
Disclosure: At the time of writing this piece, the author owned SOL, ORCA, and several other crypto assets.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
