EU-licensed financial institution Simplex has added VeChain (VET) to its list of supported crypto assets, enabling users to buy, sell, and trade VET for fiat and other cryptocurrencies.
Simplex, a leading crypto-to-fiat onramp infrastructure platform yesterday announced it had introduced support for VeChain’s VET token. The addition of VET to Simplex’s rapidly growing list of supported cryptocurrencies allows VET holders to seamlessly buy, sell, and trade the digital currency for other cryptocurrencies and fiat. Notably, the support for VET allows the global VeChain community to tap Simplex’s multiple benefits such as purchasing VET via fiat payment options such as credit cards and debit cards, Apple Pay, and bank transfers through Simplex Banking.
For the uninitiated, Simplex has been a pioneer in the crypto-to-fiat onramp solutions space and has partnerships with more than 350 globally accessible partners such as Binance, Huobi, and Bitpay to its name. Launched in 2015, the VeChain Foundation has been working relentlessly to address the inefficiencies plaguing the current global supply-chain infrastructure via blockchain technology. VeChain is an eco-friendly blockchain and leverages the green and sustainable Proof of Authority consensus algorithm to foster the enterprise adoption of blockchain. It offers decentralized solutions to businesses to help them lower their transaction costs and boost overall productivity.
Today, VeChain is ranked among the top cryptocurrency projects in the world, commanding a market cap of more than $7 billion. Some of the top partners with VeChain include LVMH, Haier, BMW, Groupe Renault, DNV, and PWC. Simplex’s addition of VeChain means that VET will now be available for direct purchases across Simplex’s extensive partner network of top crypto exchanges and wallets such as Binance, Digifinex, and Guarda Wallet.
