- Nuvei Corporation’s (NVEI) subsidiary Simplex and Visa are rolling out crypto-friendly debit cards to its partners across the European Economic Area and United Kingdom
- The new cards simplify the fiat-to-crypto process which creates a unified way for individuals to utilize and spend the funds from their crypto sales
- The first batch of cards were delivered to COTI in September, enabling the latter to launch crypto bank accounts and COTI-branded Visa debit cards
- Nimrod Lehavi, CEO of Simplex, said the branded Visa cards were tailor-made for the cryptocurrency space by meeting global standards of compliance
- Nuvei Corporation’s (NVEI) is down 0.12 per cent trading at $75.73 per share as of 12:38 p.m. EST
Nuvei (NVEI) subsidiary Simplex and Visa are rolling out crypto-friendly debit cards to their partners in the European Economic Area & the UK.
Simplex continues to make use of its Visa principal membership and EMI license to provide partner firms with an easy way to spend crypto anywhere Visa is accepted.
The new cards simplify the fiat-to-crypto process which creates a unified way for individuals to utilize and spend the funds from their crypto sales.
The first batch of cards was delivered to COTI in September, enabling the latter to launch crypto bank accounts and COTI-branded Visa debit cards.
Merchants on COTI’s blockchain finance network stand to benefit from increased adoption because of being able to accept cryptocurrency as a payment option.
The use of the debit card allows customers to sell their crypto holdings instantaneously.
Using the branded cards, customers gain the same spending power with their crypto holdings as they would with traditional currencies.
The Nuvei-Visa collaboration stands to optimize cryptocurrency and digital asset payments by offering clients a way to close the fiat-to-crypto-to-fiat loop, a process that previously depended on the cooperation of the legacy banking system.
Nimrod Lehavi, CEO of Simplex, said the branded Visa cards were tailor-made for the cryptocurrency space by meeting global standards of compliance.
“Thanks to Visa, we have created a straightforward and simple program that is tailored to the crypto industry in terms of compliance, risk, time-to-market and costs,” he said.
Nuvei Corporation’s (NVEI) is down 0.12 per cent trading at $75.73 per share as of 12:38 p.m. EST.
