Simplex, a Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term processing start-up, announced today that it would be providing its services for companies that want to launch initial-coin-offerings. The firm will start providing its new service to companies it is already working with.

Simplex was founded in 2014 with the aim of providing payment processing services to the crypto industry. At the time, the crypto market was, as it arguably still is today, much more opaque and it was difficult to gain access to.

Simplex's founding was in part inspired by founder Nimrod Lehavi’s experience with Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term. Lehavi was living in a small town in central Israel and, when he tried to purchase bitcoin, he was unable to as the payments system he was using couldn’t verify his address.

Since then, the firm has managed to raise close to $10 million in funding. Unlike some other start-ups, who have received significantly more in funding, the firm is also now profitable.

Expanding the business

Having started out in the crypto industry, the firm has since branched out and offers its services to any merchant using online payments services. The company claims that its roots in the crypto industry have strengthened it massively due to the high levels of risk involved.

This isn’t to say that the firm will be staying away from the crypto industry. Today’s announcement shows that the company still sees room for expansion in that area.

As noted, the firm will start supporting ICO’s organized by companies it is already familiar with. This, according to Simplex, is to reduce the constraints imposed by on-boarding due diligence.