Payments company Nuvei (TSX: NVEI) has partnered with Visa (NYSE: V) to create a new debit card that will be capable of making payments using cryptocurrencies.
According to a statement from Nuvei, the payment firm’s subsidiary, Simplex, will be unveiling crypto-friendly debit cards through its partners across the UK and the European Economic Area. A batch of Visa-branded cards were previously delivered to COTI— a blockchain finance ecosystem— back in September, and will now allow users to sell their crypto assets and spend the funds immediately wherever Visa is accepted.
By utilizing Nuvei’s Simplex Banking platform, the cards will serve to streamline the fiat-to-crypto-on-ramp and off-ramp process, which was previously only possible through the traditional banking system.
Information for this briefing was found via Nuvei. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.