Circle stands as a global Fintech company, and has recently rolled out a brand new complete payments solution. This solution was developed in order to allow marketplaces and storefronts of non-fungible tokens (NFTs) to accept both crypto and credit card payments. According to the press release of Circle, this was done in a bid to attract a more widespread audience to the NFT marketplace.
New Solutions For Budding Industries
Alongside this, the Circle announcement revealed that the Fintech firm will also include new features into its offering soon enough, such as support for Bitcoin, USD Coin, as well as Ethereum-based payments. Another key feature to be added was Circle accounts for NFT market operators to generate yields, and the subsequent NFT custodial services needed to achieve that.
Now, the NFT space isn’t gaining that mainstream acceptance that other facets of the crypto space are experiencing, mainly due to the complex payment methods needed to achieve it. This typically includes the usage of cryptocurrencies, as the press release detailed. However, this entire process will be simplified thanks to Circle’s NFT solution, according to the announcement, allowing for credit cards to be used, as well.
Combining New Payment Solutions With Traditional Ones
The release described this solution as a seamless experience, claiming that people will find it all the easier to enter the NFT space with it. This, in turn, will see that the platform will expand with greater engagement from the public at large. Alongside this, the press release highlighted that creators will have a new support base thanks to the newfound access to the USD Coin (USDC), as well as traditional payment rails.
The Mandatory Public Statement
Jeremy Allaire stands as the CEO and co-founder of Circle, and gave a statement within the press release. He explained that NFTs stand as a valuable, important trend for both creators of them and the marketplaces that facilitate them. He highlighted how customers are ever-increasing their demands for artworks, collectibles, and just about anything else that can be tokenized on the blockchain. Circle, Allaire explained, is quite keen on supporting all facets of this industry, be it platforms, creators, storefronts, marketplaces, and, of course, the customers in question.
It’s quite honestly phenomenal how much the NFT has expanded, thanks primarily to digital art sales and new NFT platforms that have been going on recently. Jack Dorsey managed to sell his first-ever tweet from 2009 for a whopping $2.9 million.