The financial tech company, Nuvei has announced the launch of crypto-friendly debit cards with the VISA partnership.
Partnership
After COTI, Nuvei is joining forces with Visa to roll out branded Visa debit cards through its subsidiary Simplex. The collaboration with the American multinational payment service Visa, will target Nuvei’s partners across the European Economic Area (EEA) and United Kingdom (UK). In October this year, Nuvei and Visa partnered to extend digital payouts in the US. Following their collaboration to enhance digital payouts in Europe.
In combination with Nuvei’s Simplex Banking, the new cards simplify the fiat-to-crypto on-ramp and off-ramp process. Making a unified way for individuals to utilize and spend the funds from their crypto sales. For the customers of Nuvei’s partners, the use of the crypto debit card allows them to sell their crypto holdings at the click of a button. Same time being able to spend the funds instantly anywhere that Visa is accepted.
Quotes
While talking about the rising demand for cryptocurrencies, Nikola Plecas, Director of Crypto Solutions at Visa Europe, said: “Awareness of cryptocurrencies has increased 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.”
Nuvei CEO and chair Philip Fayer said: “The branded Visa debit card is a huge asset to our partners and their users, enabling the immediate and seamless spending of crypto earnings. “With this programme, Visa has played a vital role in expanding the crypto ecosystem by closing the gap between traditional finance and crypto.”
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,” he said. “Our Visa card program has already seen huge success across Europe and in the UK.”
