Ankr implements Loop Crypto to enable crypto payments for its RaaS platform
We’re excited to announce that Ankr, a leading web3 infrastructure company, has implemented Loop Crypto to enable recurring crypto payments. The Loop checkout is now available for users of Asphere, Ankr’s enterprise platform dedicated to Rollup-as-a-Service (RaaS) infrastructure. Asphere makes it easy for teams to deploy their own rollup or sidechain and provides a suite of development tools for end-to-end blockchain creation. RPC providers, like Ankr, choose Loop to handle their payments for its flexibility and ability to integrate with existing billing systems.
Ankr has positioned itself as the gateway to web3, providing all the services and tools developers need to get started building in this ecosystem. Serving a global customer base comprised of developers, Ankr recognized the importance of meeting the payment needs of its core user base. These customers need a globally interoperable payment option that allows them to pay on chain, leveraging the stablecoins and tokens they already hold. Stablecoin and crypto payments are the single most powerful payment option today - this one payment method unlocks access to stablecoin holders across 155 countries. At Loop, we see 1 in 5 customers choosing stablecoins or crypto as their preferred payment method when placed next to fiat options like card and bank transfers.
Asphere, in particular, works with a broad range of protocol teams who are building and launching new blockchains. These teams typically maintain their treasuries on chain, and in some cases, they struggle to gain access to credit cards and bank accounts. The ability to pay in stablecoins or crypto is critical. It lowers the cost of sending funds and eliminates the hassle of off-ramping into fiat to settle bills.
Why Loop?
Loop is a stablecoin and crypto payment processor. Our APIs provide merchants and other payment processors the capability to enable subscriptions, one-time payments, and invoicing. For the Ankr team, Loop’s product addresses two core needs.
First, it integrates seamlessly with their existing billing management system. Loop can be added to any billing management system as an additional payment method. Ankr currently uses Stripe for its billing management system. While the team had collected crypto payments in the past via direct sends to a wallet, reconciling these transactions to their billing system was manual and highly inefficient with the potential for errors. Loop’s integration with Stripe means that all crypto payment data now seamlessly flow into the billing system. When a payment occurs on chain, the invoice record in Stripe is automatically updated. All customer payment data related to subscriptions now live in one place. This not only improves operations but also provides the opportunity to layer on more analytics as the team manages its revenue growth. This is how crypto payments ought to work - as another option in the payment systems merchants are already using.
Second, Loop enables automated recurring payments, a key feature for subscriptions. Manually collecting payments from customers each cycle is time-consuming and prone to error. With Loop, customers create an on-chain payment method and provide approval to charge them every cycle— a flow that mirrors credit card checkout. Each payment period, customers are automatically charged. Loop handles all the payment reminders, receipts, and notifications (known as dunning flows).
The Ankr team is excited about the potential for this new payment method to grow revenue and allow them to sustainably scale operations.
How to get started
Stablecoin and crypto payments are quickly becoming the preferred method of payment for developers around the globe. If you are an infrastructure company operating in web3, we would love to chat and show you how simple it is to turn on this new payment method. Loop makes implementation easy with integrations to existing billing systems like OpenPay, Stripe, and Chargebee.
