Fintech & Ecommerce

Visa and Nuvei introduce crypto-friendly debit card

The debit card allows partners and customers to sell their crypto holdings at the click of a button

Visa

Visa and Nuvei launch crypto-friendly debit card. Source: pexels.com

Nuvei has partnered with Visa to launch a debit card that is crypto-friendly.

The payments technology company will introduce the debit cards to its partners in the United Kingdom and the European Economic Area.

For the entire process, the company will utilize Simplex, the firm’s fintech subsidiary. In May, Nuvei bought Simplex in a $250 million deal that gave Nuvei future banking possibilities since Simplex is licensed in the electronic money institution (EMI) category in the European Union.

Simple, being a member of Visa’s principal network, can give Visa cards and grant customers access to virtual currencies. Simplex joined hands with COTI, an enterprise-crypto fintech platform as COTI launched Visa debit cards and digital currency-friendly bank accounts.

COTI’s partnership with Nuvei will benefit the firm with a rise in adoption given that it can now accept digital currencies as a remittance option. Nuvei partners’ customers can sell their digital currency holdings. They can also use the currencies in any area that accepts Visa as a payment method.

We’ve reported that Binance to launch crypto exchange in Indonesia.

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