Circle Unveils Payments Tools for NFT Marketplaces

Non-fungible tokens (NFTs) are the hottest fintech trend that nobody saw coming. And today, payments infrastructure firm Circle is extending its services to help support NFT marketplaces.

Circle’s new payments solution enables NFT marketplaces to accept both traditional payment cards and crypto payments. The Masachusetts-based company anticipates that the support will not only offer a more seamless user experience for NFT marketplaces, but will also support engagement by offering more payment options.

“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,” said Circle Co-founder and CEO Jeremy Allaire. “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.”

In the coming months, Circle will also add support for BTC and ETH payments; allow for the storage, custody, and transfer of NFT assets; and provide treasury and yield services.

Today’s news comes at a time when public awareness of NFT marketplaces is at an all-time high. One such platform, NBA Top Shot, has seen a 400% increase in sales over the past 30 days. Overall, sales volumes across major NFT marketplaces grew nearly 800%, to more than $200 million last month alone.

Since it was founded in 2013, Circle has supported over 100 million transactions worth tens of billions of dollars. The company, which counts almost 10 million retail customers and almost one thousand business clients, stores more than $5 billion in digital currency assets.