Simplex Collaborate With Visa To Release Crypto Debit Cards

Simplex collaborate with Visa to release crypto debit cards. More than 200 Simplex partner companies are now able to sell their customers crypto debit cards, potentially allowing greater use of cryptocurrencies for retail transactions.

The production is the result of a new collaboration revealed on Monday between Simplex and Visa. Simplex, a fiat-to-crypto on-ramp operation is now a principal member of Visa in Europe.

A Simplex spokesperson explained that the partnership is mainly a boost for the company’s business-to-business activities. “The principal membership is what enables us to roll this out to our partner network, basically giving any Simplex partner the ability to offer a crypto or fiat Visa card.” 

For Simplex founder and CEO Nimrod Lehavi, the Visa partnership is an important step in the company’s plans of enabling greater access to digital currencies. Back in October, Simplex added a Tether-to-euro cashout feature to its platform.

Crypto debit cards remain an important component of enabling “fiat-like convenience” for spending cryptocurrencies either online or in physical store locations. Indeed, the increased utilization of digital currencies for microtransactions remains one of the benchmarks for gauging crypto adoption.

A number of crypto businesses started launching debit cards in 2020 that enable users to spend crypto. The Binance Card is the new entry, shipping in December to European customers. Earlier in the same month, crypto lender BlockFi launched its own card scheme.

[image: Nathan Dumlao]

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