Nuvei Corporation’s subsidiary Simplex is launching a branded Visa debit cards to its partners across the European Economic Area and United Kingdom.
Through its Simplex brand, Nuvei has recently released a crypto-friendly debit cards to blockchain finance ecosystem COTI. The company is leveraging its Visa Principal Membership and EMI license to provide partner firms with a way to spend crypto anywhere a Visa card is accepted .
The new cards together with Nuvei’s Simplex Banking simplify the fiat-to-crypto on-ramp and off-ramp process. This creates a unified way for customers to utilise and spend the funds from their crypto sales.
The branded Visa debit card is a huge asset to our partners and their users, enabling the immediate and seamless spending of crypto earnings,” he said, “With this program, Visa has played a vital role in expanding the crypto ecosystem by closing the gap between traditional finance and crypto.
Nikola Plecas, Director, Crypto Solutions, Europe, Visa, added:
Awareness of cryptocurrencies has increasing significantly amongst consumers across Europe, resulting in increased adoption as more people look to access crypto. We are excited to be part of this, and by deepening our relationship with Nuvei further, we are delighted to provide consumers with a simple and secure way to spend their crypto.
COTI can now launch crypto bank accounts and COTI-branded Visa debit cards. Merchants on COTI’s blockchain finance network are able to accept cryptocurrency as a payment option.
Nuvei and Visa’s partnership can optimise cryptocurrency and digital asset payments an easier way to close the fiat-to-crypto-to-fiat loop without the cooperation of the legacy banking system.
Nuvei’s CEO of Simplex, Nimrod Lehavi said:
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. Our Visa card program has already seen huge success across Europe and in the UK.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.