Nuvei partners Visa to launch branded crypto debit cards across Europe
Canadian paytech Nuvei has partnered with Visa to launch branded crypto debit cards to partners across the European Economic Area (EEA) and the UK.
Cards will allow users to spend crypto anywhere Visa is accepted
Leveraging its Electronic Money Institution (EMI) licence and Visa Principal Membership via its subsidiary Simplex, Nuvei’s debit cards have been designed to make it easier for users to spend their crypto funds on everyday purchases anywhere Visa is accepted.
Nuvei says the collaboration enables clients to close the “fiat-to-crypto-to-fiat loop”, a process that previously depended on the cooperation of the legacy banking system.
Visa’s director of crypto solutions in Europe Nikola Plecas says: “Awareness of cryptocurrencies has been increasing significantly amongst consumers across Europe, resulting in increased adoption as more people look to access crypto.”
Over the past year, Nuvei has provided crypto-friendly debit cards to blockchain finance ecosystem COTI, enabling the firm to launch crypto bank accounts and COTI-branded Visa debit cards. Partnering with Nuvei, merchants on COTI’s blockchain finance network are now able to accept cryptocurrency as a payment option.
Nuvei’s CEO of Simplex Nimrod Lehavi says its offering is “tailored to the crypto industry in terms of compliance, risk, time-to-market and costs”.
