Israel-based payments processor Simplex said Tuesday it has become a principal member of the Visa network.
- Through the membership, Simplex now has permission to issue Visa cards, giving its consumers access to digital currencies daily.
- “We’re excited to work with leading fintechs like Simplex [that] are helping to enable simple, secure and compliant conversions between crypto and fiat and the ability to spend these funds at Visa’s network of more than 60 million merchants,” said Cuy Sheffield, senior director and head of cryptocurrency at Visa.
- Simplex launched its platform in 2014 allowing consumers to buy digital currencies with their credit cards.
- Earlier this year, Simplex made Hedera Hashgraph’s native cryptocurrency HBAR available for purchase through its platform.