Singaporean sneaker market Novelship partners with TripleA to pay crypto sellers

Novelship, a Singapore-based marketplace for limited-edition sneakers, streetwear and collectibles, announced the launch of its crypto payment feature on Monday.

In partnership with TripleA, a crypto payment gateway licensed by the Monetary Authority of Singapore (MAS), sellers on Novelship can now choose to be paid with
cryptocurrencies, Novelship said in a statement.

According to the release, TripleA will help sellers on Novelship receive payments instantly, compared to traditional methods that take three to seven business days.

The partnership will continue to bridge the gap between traditional and digital payments and provide sellers with a faster way to get paid.

Earlier this year in March, Novelship conducted a survey of our customers and found that sneakerheads were asking for payment to be made in cryptocurrencies. He quickly partnered with TripleA to help customers easily and securely pay for their items with cryptocurrencies.

Since adding cryptocurrencies as a payment method, over $250,000 of sneakers have been purchased in cryptocurrencies. Additionally, Novelship was able to serve more high-value customers, increasing the average order value per customer.

“Cryptocurrencies present us with a unique opportunity to streamline our payments and provide a better experience for our users. The initial results of the pilot project have been very promising and we are excited to bring the payment functionality to our merchants. community. We are proud to be at the forefront of this
change, and we will continue to innovate through partners like TripleA and Binance to deliver the best possible experience for our customers,” said Richard Xia, CEO of Novelship.

Novelship is Asia’s fastest growing marketplace for enthusiasts to buy and sell the world’s most popular and trendsetting brands such as Nike, Air Jordan, Yeezy, Supreme and Kaws. Serving the sneaker and streetwear community in Singapore, Malaysia, Indonesia, Australia, New Zealand and Taiwan, she carefully selects and professionally authenticates every item in her collection.

With plans to launch a non-fungible token (NFT) in the near future, Novelship said it is continuing its efforts in Web3 and also recently announced an integration with Binance Pay.

This integration with Binance allows its users to pay using any cryptocurrency directly from their Binance wallet, without incurring any fees.

“Many marketplaces like Novelship want to accept payments and pay their sellers in cryptocurrencies, but are unwilling to take on the risk of volatility that comes with holding cryptocurrencies. By partnering with TripleA, businesses can pay and get paid in cryptocurrencies without owning cryptocurrency assets or worrying about AML regulations and controls,” said Eric Barbier, CEO and Founder of TripleA.

TripleA helps businesses grow revenue by enabling crypto payments and payments, giving them access to the rapidly growing purchasing power of over $300 million
cryptocurrency users. With its white label, easy setup, instant confirmation, locked exchange rate, real-time fiat conversion, and crypto payment solution with no chargebacks, it meets the needs of all businesses, including e-commerce merchants. , retailers, game providers, PSP, fintech, marketplaces and technology companies.

This news follows the recent announcement of TripleA’s first round of funding, led by the enterprise arm of gaming giant Razer.

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