28 October 2021, SINGAPORE; RtistiQ, a blockchain and NFT-enabled art marketplace with over 2500 artworks across 29 countries, has partnered with TripleA, one of Singapore’s leading crypto-payments solutions, as their payment platform.
The boom of non-fungible tokens (NFTs) and blockchain has catapulted the art scene into the spotlight with art becoming more accessible, there are more people looking to get into the scene by purchasing and owning their own pieces.
Online art sales have increased, making up a significant portion of the global art market and interest remains high amongst Asian collectors, beating that of the western market.
Under the collaboration, customers can make their payments using digital payment tokens such as bitcoin and ether, providing more payment options, especially for those in possession of their own tokens.
This feature also fits nicely with the technologically-forward online art marketplace that leverages technologies such as blockchain, NFTs and near field communication (NFC), solidifying its place in a digital economy.
"Being at the forefront of blockchain technology in the art industry, we want to empower our artists and collectors with cryptocurrency. Integrating TripleA's crypto payment gateway provides a secure and transparent environment for passion-driven transactions. Combined with AR and AI, it enhances the art experience multifold in a digital economy," said Jothi Menon, co-founder and CEO of RtistiQ.
The Monetary Authority of Singapore (MAS) has been regulating digital payment licenses. The biggest crypto payment providers, such as Coinbase, have not been approved with Binance Global being banned entirely. Therefore, TripleA being an MAS-compliant multinational crypto payment platform provides both regulators and customers the peace of mind to transact with RtistiQ.
"We are delighted to be the preferred partner of RistiQ in Singapore. Businesses in the city-state are warming to cryptocurrency with the government's support for blockchain innovation. We anticipate a long and successful collaboration with RtistiQ, as we provide them access to millions of art lovers from around the world that use crypto payments," said Eric Barbier, CEO of TripleA.
Re-disseminated by The Asian Banker from