In recent months, the non-fungible token (NFT) market has witnessed an incredible level of growth resulting in an increase in the rate of adoption. With the current NFT boom, US-based payment technology company, Circle, has launched a comprehensive payment solution for users of non-fungible tokens (NFT).
In a recent announcement, the company revealed that the new innovation has been designed to support both fiat and cryptocurrency payment options to enable more people to participate in the NFT space. The design features will include support for BTC, ETH, and USDC and fiat currency payments using credit cards.
The new payment solution will also feature NFT custodial services as well as yield-generating Circle accounts for NFT market operators.
Room For Further Engagements
Over the past few months, the NFT space has been gaining surging interest with more engagements snapping up the system. A few weeks ago, reports revealed a skyrocketing pace in NFT’s search volume on Google.
However, the payment complications encountered by the NFT market operators have been a major set-back that has caused the system to lack further engagements.
Nonetheless, the Circle’s newest development has been initiated to curtail the challenges associated with NFT-related payments. As such, NFT operators can now make easy payments for NFT transactions using Circle’s NFT Solution.
Co-founder and CEO of Circle tech company, Jeremy Allaire claimed the new development to be the company’s strategy to support the NFT industry.
“This is not only an important and valuable trend for marketplaces and creators, it represents incredible demand from customers – for collectibles, artwork, moments, and really anything that can be tokenized on the blockchain.”
The company also promised further features in the coming months. More features to enhance user-friendly and easy services for NFT market operators.
“Circle looks forward to supporting the industry – creators, platforms, marketplaces, storefronts and customers – with our solution for enabling a user-friendly, mainstream payments experience with the power of crypto connectivity and USDC,” Allaire added.
A few days ago, leading crypto exchange, Crypto.com launched an NFT marketplace for exclusive artworks from popular brands and celebrities.
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Author: Caroline John