Circle Launched Credit Card Payment Solution For NFT Platforms

Circle Launched a credit card payment solution for the NFT market as a part of its plan to accelerate the mainstream adoption of non-fungible tokens as we can see more in today’s crypto news.

The leading crypto fintech startup Circle Internet Financial announced the launch of the payment solution for NFTs and it will enable investors and content creators to make payments by using their cryptos or credit cards. The company stated that it hopes the initiative will bring more investors on board the NFT bandwagon. Jeremy Allaire who is the co-founder and CEO of Circle said that the initiative is important for content creators as well as the customers that want to venture into the market:

 “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.”

As Circle launched the new solution, it will provide support for investors to make payments by using cryptocurrencies. These include the USD Coin, Bitcoin, and Ethereum in the next few months. The US-based company will develop an NFT custodial service and yield generation accounts for the NFT market operators as the announcement added. These tokens have been the major trending topic in the industry despite the sector seeing various arts, musicals, and video game collectibles sold for millions of dollars. One of the most remarkable events was the Beeple Art that was sent for $69 million.

A few weeks back, Jack Dorsey who is the CEO of the popular payment provider Square sold his first Tweet as NFT for $2.9 million. The sales prompted lots of interest among mainstream investors as well as industry experts that are looking to partake of the recent crypto trend. However, there was a little snag with NFTs as investors are usually required to purchase content using crypto. While using crypto to buy NFT collections brings many opportunities, it deterred a lot of investors that don’t own digital currencies from getting involved with the current trend.

Based on this knowledge, Circle unveiled the initiative to enable traditional investors to the market because the sales and purchases can be made using crypto and credit card options.