Visa and Nuvei are launching new crypto debit cards for the European and UK markets. In fact, the partnership between the two brands was already in place, but now it is taking shape with a new product.
New crypto debit cards from Visa and Nuvei
The card will also be realized with Simplex Banking. Like other crypto cards, it will allow users to pay anywhere that Visa is accepted, instantly converting cryptocurrencies into fiat money.
Nuevi had already launched crypto debit cards on the COTI blockchain, now through the Simplex brand it is launching another version. With COTI, Nuvei had already launched crypto bank accounts.
This collaboration aims to facilitate cryptocurrency payments.
Philip Fayer, CEO of Nuvei, 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. With this program, Visa has played a vital role in expanding the crypto ecosystem by closing the gap between traditional finance and crypto”.
Nikola Plecas, Director, Crypto Solutions, Europe, Visa:
“Awareness of cryptocurrencies has increasing significantly amongst consumers across Europe, resulting in increased adoption as more people look to access crypto. We are excited to be part of this, and by deepening our relationship with Nuvei further, we are delighted to provide consumers with a simple and secure way to spend their crypto”.
Nimrod Lehavi added:
“Thanks to Visa, we have created a straightforward and simple program that is tailored to the crypto industry in terms of compliance, risk, time-to-market and costs. Our Visa card program has already seen huge success across Europe and in the UK”.
Visa’s involvement in the crypto sector
Visa is now increasingly determined to increase its involvement in the crypto sector. There are already several Visa cards on the market that not only allow users to spend cryptocurrencies by instantly converting them into fiat, but also allow for cashback.
Visa is now expanding well beyond the payment industry. It recently launched a crypto advisory service for its partners to help them integrate cryptocurrencies into their business.
Finally, Visa has also shown interest in the world of NFTs, so much so that it bought one of the very popular CryptoPunks. On this occasion, it spent $150,000 or more precisely 49.50 ETH and declared that NFTs will play an important role in the future.