Crypto Comeback Pro is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. (Ad)
Orca has announced that it is going to use the technology offered by Stripe to facilitate fiat-to-cryptocurrency transactions.
Orca is an automated market maker that has been operating on the Solana blockchain. It is known for being one of the leading AMMs currently operating on the Solana network.
In the early part of November, the FTX exchange ended up crashing and with it, several other projects came down crashing.
The impact of the FTX exchange’s crash was felt all across the cryptocurrency industry. It also reached out to multiple blockchain networks that were very close with FTX and its founder, Sam Bankman-Fried.
As the exchange went down, all the networks and firms connected with it faced a major impact. The situation is not proving to be good for the firms connected with the FTX entity.
Unfortunately, the Solana network was also among the networks that were very close to FTX and Bankman-Fried.
With the exchange’s demise, the Solana blockchain also came under great pressure. The cryptocurrency industry started to back out from the Solana network causing a huge dent in the protocol’s reputation.
The networks that are based on the Solana blockchain are also facing a negative impact. However, they are trying their best to keep themselves away from such harm.
In order to keep themselves out of trouble, the projects are coming up with multiple upgrades and changes to their systems.
Orca Integrates Stripe
Being one of the largest automated market makers in the Solana ecosystem, Orca is also concerned about its future in the network.
Therefore, it wants to strengthen itself and provide a very secure and safe environment to the crypto community and investors.
Orca has acted fast and has reportedly integrated Stripe into its system to let users execute fiat-to-crypto transactions.
The firm has announced that after the integration of Stripe, users will be able to purchase multiple cryptos on their protocol using fiat currencies.
At the moment, the cryptocurrencies available for sale on the Orca protocol are SOL, USD Coin (USDC), and SPL tokens. The SPL tokens are the native tokens offered by the Orca platform.
Economic Tools are Easily Accessible
Orca is aiming to benefit tremendously from the integration of Stripe. The co-founder of Orca Ori Kawn stated that they are glad that they have integrated a new utility for their users.
With the integration of Stripe, they have managed to make the economic tools more accessible to the users. They will be able to use them easily and will be able to use fiat to buy crypto.
Kawn stated that the goal that they have to achieve with this offering is to let the users come closer to the Solana network. They will be able to connect with their system and that would form a strong community.
This is the first time Orca has integrated a service that lets it gain more prominence in the blockchain sector.
Orca had A lot on its Agenda
Orca has been founded by a team of some of the most enthusiastic and keen individuals who want to gain so much in the crypto-blockchain industry.
They want to go all and bring a huge catalog of products and services to their users. Last, year, Orca shared its business expansion plan that revealed that the AMM wants to offer an entire crypto business suite.
The firm claimed last year that they will be launching Just Mining, a mining protocol for the users. They also announced that they would launch Nifty Gateway.
The firm even stated that they have already partnered with FTX US and the FTX international brand.
However, it seems that Orca will not be able to check all the tasks that it was aiming to perform in the running year. With the FTX brand going bankrupt, there is no way it would partner with these entities.
Crypto Comeback Pro is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. (Ad)
