Products

EMARKETER delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
PRO+
New data sets, deeper insights, and flexible data visualizations.
Learn More
Reports
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Forecasts
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Charts
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Briefings
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About EMARKETER

Our goal is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how EMARKETER came to be.
Learn More
Methodology
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about EMARKETER.
Contact Us
Newsroom
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Events
Browse our upcoming and past events, recent podcasts, and other featured resources.
Learn More
Podcasts
Tune in to EMARKETER's daily, weekly, and monthly podcasts.
Learn More

Stripe hopes to facilitate web3 purchases with crypto payments onramp

The news: Stripe introduced a fiat-to-crypto payment solution that makes it easier for consumers to purchase cryptocurrencies without having to go through a crypto exchange, per a press release.

Web3 sites—like nonfungible token (NFT) platforms and decentralized exchanges—can embed Stripe’s fiat-to-crypto widget into their tech stack to facilitate purchases. The service will be available to US customers before expanding over time.

Key context: Consumers often need cryptos to purchase NFTs or interact with other web3 services. That means signing up with a crypto exchange—which requires jumping through know-your-customer (KYC) hoops—purchasing cryptos, and then transferring them to a noncustodial wallet.

Stripe’s fiat-to-crypto widget avoids the exchange-to-wallet process. Stripe will handle KYC and other compliance procedures, fraud protection, and payments.

Why it’s worth watching: Stripe appears unperturbed by the widespread turmoil in the crypto sector.

  • Signs of systemic instability emerged earlier this year after stablecoin TerraUSD’s implosion roiled markets and contributed to bankruptcy filings at crypto hedge fund Three Arrows Capital and crypto lenders Voyager Digital and Celsius Network.
  • FTX’s collapse is likely the most high-profile case to date. The crypto exchange previously led by Sam Bankman-Fried filed for Chapter 11 bankruptcy last month and is facing a class-action lawsuit. The Securities and Exchange Commission and the Department of Justice are also investigating it. Stripe had a previous partnership with FTX.
  • Not long after FTX’s fall, BlockFi also filed for bankruptcy. BlockFi had strong ties to FTX—the crypto exchange received a $400 million credit facility from FTX earlier this year. Following its bankruptcy, BlockFi’s Visa rewards credit card became unavailable to new applicants and unusable to existing cardholders.

What this means: Stripe sees valuable use cases for crypto payments within the context of web3, which is expected to reach $81.5 billion in global market value by 2030, per Emergen Research.

The fact that Stripe is willing to invest in a crypto offering despite recent cost-cutting efforts showcases its belief that there’s enough demand to generate strong revenues. It laid off 14% of its staff last month, citing tough economic conditions. It also said it would reduce investments to match the current economic environment.

This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.