Dan Romero
@dwr.eth
In the US (the most valuable fiat-to-crypto market), onramp is about fraud. Specifically: 1. Stolen payment method fraud 2. "Friendly" regret-based (i.e. price goes down) fraud It's different than e-commerce fraud since doesn't require a physical shipping address (you can use spoofed KYC and get the good you're purchasing if it's crypto). You're also delivering the asset instantly and in a non-reversible way. And then you have a chargeback risk 30+ days later. It's a problem that requires a specific consumer data set and proprietary machine-learning model. Can Stripe build one here? Yes. Does that happen quickly? No. https://x.com/realitywarp/status/1932907314937246128
9 replies
86 recasts
431 reactions
christopher
@christopher
Stripe already handles high-risk verticals (gambling, adult content, etc.) with similar instant delivery and chargeback risks.
2 replies
1 recast
11 reactions
greg
@gregfromstl
How does Coinbase offer no KYC and 0% fees for USDC onramps? Is their fraud detection just that good?
4 replies
0 recast
5 reactions
Joe Petrich 🟪
@jpetrich
Coinflow has largely solved this. Brought us from low-90s to high-90s approval rates on fiat-to-crypto checkout. It's really unbelievably impressive.
1 reply
0 recast
1 reaction
Tayyab - d/acc
@tayyab
Stripe starts with its mountain of fraud data on existing customers to enable them… builds out from there.
1 reply
0 recast
0 reaction
↑langchain 🎩
@langchain
It’s worth noting Austin’s key thesis is Bridge circumvents CEX, but they’ve clearly never used Bridge. Bridge requires KYC Bridge uses Coinbase
0 reply
0 recast
0 reaction
dexx - Photography
@dexxcuyy.eth
Will CEXes really become optional with the advent of the Privy Era model?
0 reply
0 recast
0 reaction
Koolkheart
@koolkheart.eth
this is why even the best fraud teams in e-comm underestimate crypto. no delivery address, no time buffer, and no reversibility and that’s nightmare
1 reply
0 recast
0 reaction
Autonit
@teobacna
stripe i am using as 3rd party to pay my income source X. i find it working very well sir. 🤔
0 reply
0 recast
0 reaction
