Canada’s largest e-payment processing company Nuvei Corporation announced that it is collaborating with the well-known hardware wallet provider, Ledger.
According to the press release, Nuvei’s move will enable direct on-ramps (fiat-crypto assets) for more than 125 cryptocurrencies with all major fiat funding options through its newly acquired payment solution provider, Simplex.
In Brief:
- Simplex by Nuvei will offer a greater cushion from chargebacks, fraud, and other inconveniences.
- Ledger users will be able to buy crypto using Visa, Mastercard, SEPA, SWIFT, and other popular payments platforms.
The global payment platform integrates with Ledger, allowing users of the latter to buy cryptocurrencies without having to go through external exchanges or fiat-to-crypto currency payment gateways.
Simplex is a fintech startup providing fiat infrastructure to the cryptocurrency industry. It will provide safeguards against annoyances such as chargebacks and fraud.
This will allow Ledger to concentrate on attracting new users and providing value to current customers.
It is critical that hardware wallet users maximize their security. This integration provides safe use because it avoids the extra steps of communicating with exchanges and also temporarily jeopardizes the device’s security.
Philip Fayer, Chairman and CEO of Nuvei commented, “With the number of possible verified uses of crypto in the ecosystem ever increasing, having easy onramps within the wallet is key for the continued growth of the sector.”
Ledger users will be able to purchase cryptocurrencies using payment processors such as Visa, Mastercard, SEPA, SWIFT, and over 100 other fiat funding options for various local currencies, thanks to Ledger Live.
Not only will Ledger users have access to a wide range of fiat in various combinations, but they will also have access to a broader range of trading and arbitrage opportunities.
Ledger Live currently provides income generation through staking, access to DeFi, and improved NFT asset management. As a result, combining these with Nuvei’s Simplex services will increase earning potential.
Ledger Live is the desktop and mobile app version of the Ledger hardware wallet products. The app provides users with a simplified interface that allows them to safely interact with their hardware wallet.
Ledger’s VP of International Development Jean-François Rochet said, “Ledger Live is the gateway for digital assets and Web3, and we’re excited to broaden the on-ramp offering on Ledger Live. Simplex by Nuvei is bringing more choice to Ledger customers and focuses on making it easier to enjoy all of the benefits of crypto without centralized custodians.”
A couple of weeks ago, Ledger announced a partnership with Ethereum-based Proof-of-Attendance Protocol (POAP) and also dropped the sale of genesis hardware wallet ‘Ledger Nano S Plus’ with 10,000 limited editions.
