Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Payments technology firm Nuvei is teaming up with Visa to roll out crypto-friendly debit cards to its partners across the European Economic Area and United Kingdom.

Nuvei will utilize its crypto fintech subsidiary Simplex for the process. Nuvei purchased Simplex for $250 million in cash last May in a deal that would give Nuvei future banking capabilities as Simplex has an electronic money institution (EMI) license in the European Union.

As a member of Visa’s principal network, Simplex can issue Visa cards and give consumers access to digital currencies. In September, Simplex partnered with enterprise-grade crypto fintech platform COTI as the latter launched crypto-friendly bank accounts and Visa debit cards.

“Partnering with Nuvei, merchants on COTI’s blockchain finance network stand to benefit from increased adoption as a result of being able to accept cryptocurrency as a payment option,” Nuvei said in the statement. Customers of Nuvei’s partners will be able to sell their crypto holdings, while also using the resulting funds anywhere that Visa is accepted.

Nuvei said in the spring it was adding payment support for nearly 40 cryptocurrencies for e-commerce merchants on its network.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.