BOSTON, Sept. 15, 2020 /PRNewswire/ -- Circle, a leading global financial technology firm, and Dapper Labs, creators of CryptoKitties and company known for building accessible sports, entertainment and consumer experiences on blockchain technology, today announced a partnership that will enable fans to buy and sell digital collectibles using credit and debit card payments that settle in USD Coin (USDC), the fastest-growing, fully-reserved and regulated digital dollar stablecoin.
To date, buying and selling virtual goods and digital collectibles on blockchains has relied on cryptocurrency payments. With today's announcement, Dapper Labs' Flow apps will add traditional payment options with broader mainstream appeal, removing friction and accelerating adoption. The move also provides the firm with the business benefits of game proceeds in USDC digital dollars, including global payments that settle rapidly, which are irreversible, highly secure, and redeemable 1:1 for US dollars from banks in more than 80 countries.
"We're proud to work with Circle in building an amazing payments experience for all our customers on Flow, starting with NBA Top Shot," said Roham Gharegozlou, CEO and co-founder of Dapper Labs, "Circle's payment technology combined with the performance of our new network, Flow, means any developer can build crypto-enabled applications without sacrificing user experience."
"Dapper is a true pioneer in media and entertainment seizing decentralized blockchain technologies to provide consumers with experiences never before possible," said Jeremy Allaire, CEO and co-founder of Circle. "We are proud to be part of the story, enabling Dapper customers to fully participate in unique and highly engaging digital game economies with familiar methods of sending and receiving payments, while also getting the benefits of digital currency."
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle's platform has supported over 100 million transactions worth tens of billions of dollars, with nearly 10 million retail customers, over a thousand businesses, while storing and securing more than $5 billion in digital currency assets. Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest growing, regulated, fully-reserved stablecoin. USDC now stands at a 2 billion market cap and is adding nearly 200 million net new digital dollars in circulation every week. Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Learn more at https://circle.com.
About Dapper Labs
Dapper Labs is the creator of Flow and some of the world's most popular decentralized apps CryptoKitties and NBA Top Shot. They are also creators of the Dapper Wallet, the first smart contract wallet. Formed in February 2018, Dapper Labs is building a fun, fair, and free world through blockchain gaming. With over $50M in financing, notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, GV (formally known as Google Ventures), and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others. For more information on Dapper Labs, visit www.dapperlabs.com.
SOURCE Circle Internet Financial, Inc.