Crypto-Powered Commerce Platform Launched by FASTAF via Solana, Stripe Partnerships

FASTAF, which claims to be an ultrafast delivery startup supported by former NBA star Baron Davis, launches one of the “first” cryptocurrency-powered commerce platforms through partnerships with Stripe and Solana.

As noted in the update shared with CI, FastAF says it is the “first” and “only” iOS app where you can “buy physical goods with crypto.”

Through an integration with Stripe, consumers “can purchase high-end snacks, drinks, cosmetics, and a whole other variety of products with crypto that will be delivered within 2-hours.”

As explained in the announcement, the solution “gives customers NFT perks and benefits, certain NFT holders will get access to exclusive products, similar to airport lounges that only let in Platinum Card holders.”

The solution makes NFTs the new “Coupon or Discount Code.” And customers can use certain NFTs “to get discounts, free shipping, and reward points.”

Lee Hnetinka, Founder and CEO of FASTAF, has reportedly been in the on-demand delivery business since 2013 and he believes “building a web3 payments and commerce infrastructure is the future of global payments and rewards.”

As mentioned in a blog post, Stripe’s fiat-to-crypto on-ramp, and FastAF’s integration of this capability, and its launch of the FastAF Payments Gateway “mark an important leap forward” for web3, crypto and payments, loyalty and rewards on blockchain:

  • It solves the onboarding problem (and technical challenges) associated with Web3 adoption by simplifying interaction models and eliminating friction for users.
  • It enables utility for crypto and NFTs with consumers and merchants.
  • It expands Web3 access for a broader range of consumers.
  • With this new capability, FastAF is the only mobile commerce app where consumers can buy physical goods with crypto.

To commemorate this and introduce all of this to FastAF customers and merchants, the teams are “rewarding customers with a 10% discount on their purchase when paying with crypto.”

Although today they are starting out by enabling this within FastAF only, the vision is “to let every merchant use this capability to take crypto mainstream and replace the credit card.”

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