Dapper Labs, the team responsible for developing popular blockchain-based games CryptoKitties and NBA Top Shot, announced that they will stop supporting the ACH cash withdrawal option due to the deletion of this feature by their payment partner Circle. While this development may inconvenience some users who rely on ACH transfers, Dapper Labs reassures their users that they will still support other cash withdrawal options such as wire transfer and USDC.

03/07/2023 05:22 • Daily Digest • 72 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

Interpretation of the news:

This news highlights the crucial role of payment partners in the cryptocurrency and blockchain space. Many blockchain-based applications rely on partnerships with traditional banks and payment providers to offer users the ability to transact in fiat currencies. However, as with any partnership, the decisions made by one company can have a significant impact on the other.

In this case, Circle’s decision to delete the ACH function means that Dapper Labs can no longer offer this withdrawal option to its users. It is unclear why Circle decided to delete this function, but it underscores the potential issues that can arise when relying on third-party providers in the cryptocurrency and blockchain space.

Despite this setback, Dapper Labs remains committed to offering its users a variety of withdrawal options. Wire transfers and USDC remain viable alternatives, and the development team is likely exploring additional options to ensure that their users have access to the funds they need.

The announcement also highlights the risks of relying on centralized payment providers. While blockchain-based applications promise decentralization and independence from traditional financial systems, the reality is that many still rely on centralized intermediaries to facilitate transactions. This creates potential vulnerabilities and points of failure that could compromise the security and functionality of these platforms.

In summary, the announcement from Dapper Labs that they will no longer support ACH cash withdrawals due to Circle’s decision to delete this feature underscores the crucial role of payment partners in the cryptocurrency and blockchain space. It also highlights the importance of exploring alternative withdrawal options and the risks of relying on centralized intermediaries.

Title: Dapper Labs No Longer Supporting ACH Cash Withdrawals Due to Circle Deletion

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

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