Nuvei, Canada’s largest payment method provider company, announced that they will launch crypto-friendly debit cards alongside Visa.
The process will take place through Nuvei’s subsidiary Simplex, which provides payment solutions to the cryptocurrency industry. With this move, Nuvei will allow its partners’ customers to sell their crypto assets and use their earnings wherever Visa passes.
Nuvei launched Simplex in May 2020, as it has an electronic money institution (EMI) license in the European Union. 250 million dollars bought it in return. As a member of the Visa mainnet, Simplex can create Visa cards and give its users access to cryptocurrencies.
Simplex also partnered with enterprise-grade crypto fintech platform COTI in September. COTI, along with Visa, launched crypto-friendly bank accounts and debit cards.
In the statement made by Nuvei:
By partnering with Nuvei, merchants on COTI’s blockchain finance network are poised to benefit from the adoption that comes with using cryptocurrencies as a payment option.
statements were included.
Nuvei is for vendors that have been in its network in the past months. More than 40 cryptocurrencies announced that it provides payment support.