Dapper Labs Will No Longer Support ACH Cash Withdrawal Option Due to Payment Partner Circle’s Deletion of Function

03/07/2023 05:22 • Metaverse Matters • 126 views

It is reported that the development team behind CryptoKitties and NBA Top Shot, Dapper Labs, said that because its payment partner Circle deleted the corresponding function, it no longer supports the ACH (automatic clearing center) cash withdrawal option, but will continue to support cash withdrawal through wire transfer and USDC.

Dapper Labs no longer supports ACH withdrawal, but still supports wire transfer and USDC

Interpret the above information:

Dapper Labs, the development team behind popular blockchain games CryptoKitties and NBA Top Shot, announced that it would no longer support the ACH cash withdrawal option due to its payment partner Circle’s deletion of the corresponding function. This decision means that users can no longer withdraw funds from their accounts through ACH, but will still be able to do so via wire transfer and USDC.

ACH, or the automatic clearing house, is a popular payment method used to transfer funds between bank accounts in the US. The decision to end support for ACH cash withdrawals is likely to have been driven by Circle’s removal of the function. Circle is a global financial technology firm that provides payment and account services for businesses.

Despite this change, Dapper Labs has reassured its users that they can still withdraw funds through wire transfer and USDC. USDC is a popular stablecoin pegged to the US dollar, making it an ideal option for anyone who wishes to withdraw their earnings without the inconvenience of using traditional banking methods.

The decision to end support for ACH cash withdrawals may not have a significant impact on Dapper Labs’ userbase, as many players already use wire transfer and USDC to withdraw their funds. However, there may be some who are inconvenienced by this change, especially those who are used to using ACH as their primary withdrawal method.

In conclusion, Dapper Labs’ decision to stop supporting ACH cash withdrawals due to Circle’s removal of the function is a prudent move. It ensures that the company can continue to provide users with reliable and secure payment methods. The shift towards wire transfer and USDC signals a wider trend in the use of stablecoins and the move away from traditional banking methods in the cryptocurrency industry.

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