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Nuvei and Visa Collaborate to Release Crypto-Friendly Debit Cards


coinquora.com 13 December 2021 17:13, UTC
Reading time: ~2 m

Following a partnership with Visa, Nuvei Corporation’s subsidiary called Simplex is releasing Visa debit cards. The branded cards will be rolled out to its partners throughout the European Economic Area and the United Kingdom.

Through its subsidiary Simplex, Nuvei continues to utilize its Visa Principal Membership and EMI license to allow partner firms to spend crypto where Visa is accepted.

Philip Fayer, Chair and CEO of Nuvei says that the release of the cards is an important milestone for the firm and its users. Fayer said,

The branded Visa debit card is a huge asset to our partners and their users, enabling the immediate and seamless spending of crypto earnings.

Fayer also underscored that with the program, Visa plays a very important role in the growth of the crypto industry. He said that this is “closing the gap between traditional finance and crypto.”

Visa’s Crypto Solutions Director for Europe Nikola Plecas also expressed his excitement with this new development. According to Plecas,

Awareness of cryptocurrencies has increased significantly amongst consumers across Europe, resulting in increased adoption as more people look to access crypto.

He expressed his delight to be a part of the project while deepening their company’s relationship with Nuvei.

Nimrod Lehavi, CEO of Simplex also said that the branded Visa cards were tailor-made for the crypto space while meeting global standards of compliance. According to him, “Our Visa card program has already seen huge success across Europe and in the UK.”

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