By Nathan Ferguson
Financial technology firm, Nuvei has now allied with VISA to bring a new range of branded VISA credit cards that would support cryptocurrencies as well.
Just recently Nuvei revealed its newest development to introduce a fresh series of branded debit cards in partnership with VISA, that would also easily support the cryptocurrency market and will be powered by its own secondary financial institution, Simplex. The development will be focused towards Nuvei’s partners that are working in the European Eco0nomic Area, as well as the United Kingdom.
Simplex’s Past Endeavors
Back in December of last year, Simplex had worked together with Visa in order to help its clients gain access to crypto enabled debit cards. The service provider is also an essential affiliate of the VISA network, so it has the official authorization and the ability to push out VISA cards for its precious users and help them engage with digital assets of their liking.
Making Fiat-to-Crypto Easy
Another announcement from Nuvei mentioned that the launch of the new VISA debits cards will also help to the make the process of fiat-to-crypto on-ramp and off-ramp a lot easier and more minimal than before, and as a result would assist users in managing and spending their precious funds from their cryptocurrency-based stipends much more efficiently.
The debit cards would help enable users of Nuvei’s several partners in the efficient selling of their stored crypto assets and provide them with the power and status of VISA, to which they can utilize to spend their money around the world.
VISA’s Importance
CEO of Nuvei, Philip Fayer highlighted the importance of this new development, mentioning that this launch is very crucial and will also be regarded as a key asset in the firm. Philip Fayer also emphasized VISA’s part in the development of the ecosystem and its contributions towards filing the gap between traditional finance and the cryptocurrency space.
Nikola Pleacas, from VISA EU talked about the collaboration, saying that the rise of cryptocurrency trading and adoption in Europe has reached unimaginable levels and that VISA is quite excited to join forces with Nuvei in their plans to help consumers gain a much more simple and secure way to spend their cryptocurrency assets.