Web3 development platform Thirdweb announced on Twitter that it has acquired encrypted payment processing company Paper for an undisclosed amount.
Thirdweb said that adding Paper’s Web3 wallet and settlement solution to the Thirdweb platform will make it easier for developers and users to use Web3.
According to previous reports, in May 2022, Paper completed a US$7.3 million seed round of financing, led by Electric Capital and Initialized Capital, with participation from institutions such as Polygon, FalconX, Long Journey Ventures, ThirdWeb, Night Capital, and founders of projects such as Plaid, Twitch, Fractal, MagicEden, Eventbrite, Tagomi and Bison Trails.
It is reported that Paper allows users to create wallets through their email addresses and use credit cards (or crypto wallets) to purchase NFTs on the Polygon, Ethereum, Solana and Avalanche blockchains, providing a "barrier-free" bridge for non-crypto consumers to enter the market.