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
In a recent announcement, Nuvei shared the news that they acquired the crypto payment startup SimplexCC Ltd for $250 million. The deal will be finalized as soon as the companies get regulatory approval.
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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