The crypto company can now issue Visa cards for its clients.
Crypto payment processor, Simplex announced on Tuesday that it has become a principal member of the Visa network. This status will allow the company to directly issue Visa debit cards to the users on its partner platforms.
“Visa has been a valued component of the Simplex solution since we began our journey seven years ago, enabling people throughout the world to easily purchase cryptocurrency using their Visa cards,” Nimrod Lehavi, Co-founder and CEO of Simplex, said.
“Today, Simplex is provisionally approved for principal membership to the Visa network. Our vision is to help create a world in which all currencies are accessible, regardless of where you are. This collaboration is a huge leap forward to enabling the world to have true financial freedom.”
Simplex was founded in 2014 and offers fiat onramp services using cryptocurrency credit and debit cards. The company is licensed under the European Union as a financial institution and is offering services to several top cryptocurrency players.
The company is a popular crypto service provider and has partnered with many major players like Binance, OKEx and Huobi. Meanwhile, Simplex is expanding its services and launched banking services, allowing users to generate personal IBAN.
Visa Opens up for Crypto
Additionally, Visa is betting big on crypto as the decade-old industry is growing at a fast pace. Moreover, it accepted Wirex, a UK-based crypto card issuer, as a principal member recently.
“Digital currencies have the potential to extend the value of digital Payments to a greater number of people and places,” Visa’s cryptocurrency head, Cuy Sheffield said. “For digital currencies to have utility as a medium of Exchange , there needs to be convenient fiat on-ramps and off-ramps.”
“We’re excited to work with leading fintechs like Simplex who are helping to enable simple, secure, and compliant conversions between crypto and fiat and the ability to spend these funds at Visa’s network of more than 60 million merchants.”
Crypto payment processor, Simplex announced on Tuesday that it has become a principal member of the Visa network. This status will allow the company to directly issue Visa debit cards to the users on its partner platforms.
“Visa has been a valued component of the Simplex solution since we began our journey seven years ago, enabling people throughout the world to easily purchase cryptocurrency using their Visa cards,” Nimrod Lehavi, Co-founder and CEO of Simplex, said.
“Today, Simplex is provisionally approved for principal membership to the Visa network. Our vision is to help create a world in which all currencies are accessible, regardless of where you are. This collaboration is a huge leap forward to enabling the world to have true financial freedom.”
Simplex was founded in 2014 and offers fiat onramp services using cryptocurrency credit and debit cards. The company is licensed under the European Union as a financial institution and is offering services to several top cryptocurrency players.
The company is a popular crypto service provider and has partnered with many major players like Binance, OKEx and Huobi. Meanwhile, Simplex is expanding its services and launched banking services, allowing users to generate personal IBAN.
Visa Opens up for Crypto
Additionally, Visa is betting big on crypto as the decade-old industry is growing at a fast pace. Moreover, it accepted Wirex, a UK-based crypto card issuer, as a principal member recently.
“Digital currencies have the potential to extend the value of digital Payments to a greater number of people and places,” Visa’s cryptocurrency head, Cuy Sheffield said. “For digital currencies to have utility as a medium of Exchange , there needs to be convenient fiat on-ramps and off-ramps.”
“We’re excited to work with leading fintechs like Simplex who are helping to enable simple, secure, and compliant conversions between crypto and fiat and the ability to spend these funds at Visa’s network of more than 60 million merchants.”
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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