NFTs represent a breakthrough in cryptocurrency technology, bringing property rights to the internet. While still in its infancy, by 2028 the NFT market size is expected to reach $97.6 billion according to an analysis by Research and Markets.
To address this growing category, Supermojo—a checkout platform designed to make digital assets and NFTs more accessible for users—is the latest company to utilize cross-border payments.
Liquidity Hub is a platform that seamlessly bridges crypto and fiat systems. Through Liquidity Hub and Ripple’s suite of products, businesses will be able to access both optimized crypto liquidity and an extensive payout network, powering use cases from crypto payments to crypto operations, and more. Today, Liquidity Hub is now available for customers in the US (based on jurisdiction) and Australia.
Using Crypto Liquidity for Better Customer Experience
Although NFT marketplaces and storefronts have become more popular, they have yet to offer the payment methods most people are familiar with when buying online. “Buy Now, Pay Later” experiences like Supermojo are critical to providing a more seamless, intuitive, and accessible NFT purchasing, financing, and custody experience for both crypto natives and novices alike. To power this experience, Supermojo internalizes the complexity of crypto trading required to buy NFTs with Liquidity Hub.
Previewed last year, Liquidity Hub draws on Ripple’s years of experience sourcing liquidity on demand for use in its cross-border payments solution. We later realized the opportunity to commercialize this product as a standalone solution for customers interested in sourcing a variety of crypto assets.
“At Ripple, we’re committed to helping businesses unlock value through transformative crypto solutions. With a decade of experience in crypto and working with traditional financial institutions, we’re uniquely positioned to help customers seamlessly bridge the new world of digital assets with the traditional world of fiat. With Liquidity Hub, we’re one step closer to bringing the Internet of Value to life,” said Brad Chase, Head of Liquidity Products at Ripple.
Supermojo facilitates point-of-sale financing to make NFT purchases easier for improved post-sale liquidity. Supermojo is partnering with marketplaces and storefronts to offer these services. Today, they are using Liquidity Hub to source ETH on demand for customers purchasing NFTs and to manage its treasury operations internally.
“NFTs are a massive technological innovation, but in order to grow, they need to be much more accessible to the everyday user,'' said Craig DeWitt, Founder at Supermojo. “With Supermojo, we’re bringing the ease of the traditional checkout experiences to customers interacting with NFTs. With Liquidity Hub, we’re able to better manage our liquidity internally and access ETH and other crypto coins at the best prices for our customers, to make this a reality.”
The Future is Bright for Crypto Liquidity and Payments
Leveraging Liquidity Hub to fund the purchase of NFTs is one of many use cases made possible with the platform. From crypto payments and donations to payroll, treasury management and more, the future is bright and undoubtedly promises new use cases, applications and exploration of crypto liquidity for businesses around the world.
Find out how your company can harness crypto solutions through cross-border payments at https://ripple.com/solutions/cross-border-payments/. Availability may vary by jurisdiction.
