Southeast Asia’s Largest Online Sneaker Marketplace Now Accepts Bitcoin

by Shawn Amick 

Novelship is now accepting bitcoin as payment for its authentic apparel in a partnership with cryptocurrency payment gateway provider TripleA.

• Novelship, an online marketplace for limited-edition sneakers and collectibles, is now accepting bitcoin and other cryptocurrencies as payment.
• The new payment method was integrated through a partnership with TripleA, a cryptocurrency payment gateway for merchants.
• TripleA is licensed by Singapore’s central bank, the Monetary Authority of Singapore, for anti-money laundering (AML) and know-your-customer (KYC) regulations.

Novelship, Southeast Asia's largest online marketplace for authentic sneakers, apparel and collectibles, is now accepting bitcoin and other cryptocurrencies as payment, per a press release sent to Bitcoin Magazine.

“At Novelship, we like to have our finger on the pulse by not only being open to adopting new technology and innovation onto our platform but also by actively listening to our users,” said Richard Xia, Novelship CEO, per the release.

The growing age of commerce has companies like Novelship routinely reaching out to their customers directly to figure out what is important to them. As many companies before it, Novelship decided to reach out to its consumer base for feedback on rising alternatives for payment methods.

“A strong example of this is an internal survey we commissioned which found an overwhelming number of the surveyed customers to be interested in alternative assets such as cryptocurrency,” Xia explained.

Novelship’s innovation was made possible through a partnership with TripleA, a cryptocurrency payment gateway for businesses licensed by Singapore’s central bank and financial regulation watchdog, the Monetary Authority of Singapore (MAS).

“Novelship’s great survey initiative reveals a keen interest in cryptocurrency for commercial transactions,” Eric Barbier, CEO of TripleA, stated per the release. “We are delighted to help Novelship satisfy their users, who will now be able to pay directly with their crypto wallets. And to contribute to position Novelship in the front of the evolving digital relationship in the e-commerce space.”

TripleA bridges the gap between efficiency and cryptocurrency payments offering a white-label service with easy setup, instant confirmation, locked-in exchange rates for real-time fiat conversion, and no chargebacks for bitcoin and other cryptocurrencies. Founded in 2018, the company offers high-level international compliance for anti-money laundering (AML) and know-your-customer (KYC) requirements as a regulated service.