Goldman Sachs-backed Circle has announced it plans to launch its own custodian for non-fungible tokens (NFT) in the coming months. According to an announcement, the fintech company will also develop transfer services for NFT collectibles.
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Circle will reportedly also add support for payments and payouts in bitcoin (BTC) and ether (ETH) for crypto-native marketplace experiences. Moreover, Circle will roll out its treasury and yield services, allowing users to earn up to 8% on idle working capital via crypto capital markets, the announcement says.
"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's plans for NFTs come after Dragonfly Capital announced the launch of a new $225 million venture fund called Dragonfly Fund II focused on decentralized finance (DeFi) and NFTs. The investment firm partnered with Sequoia China as a strategic LP. The company also partnered with Asian crypto-related companies, including OKEx, Huobi, Bitmain, and Bybit.
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