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Crypto Payment Provider Simplex Acquired for $250 Million by Nuvei

Published 05/08/2021, 04:35 AM
Updated 05/08/2021, 05:00 AM
Crypto Payment Provider Simplex Acquired for $250 Million by Nuvei

  • Publicly-listed Canadian company Nuvei acquired Simplex for $250 Million
  • Simplex is a crypto payment startup that offers fiat-to-crypto on and off-ramp services
  • Nuvei’s goal is to enhance its portfolio of alternative payment method solutions

According to the publicly-listed Canadian company, Nuvei will use this opportunity to enhance their alternative payment method solutions portfolio. Simplex offers fiat-to-crypto on and off-ramp services and could definitely help in this regard.

According to Simplex, they processed “processed approximately $500 million of total volume” last year. This makes them one of the fastest-growing crypto solutions startups.

Philip Fayer, Nuvei’s Chair and CEO shared his remarks.

We expect Simplex to enhance and expand Nuvei’s steadily growing ...

This article was first published on coinquora.com

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