Nuvei subsidiary rolls out Visa crypto debit cards to its partners

Nuvei's (NASDAQ:NVEI) subsidiary Simplex launches branded Visa (NYSE:V) debit cards to its partners across the European Economic Area and the U.K. The move comes about two months after Nuvei (NVEI) and Visa (V) joined forces to expand digital payouts in the U.S. with Visa Direct. With Nuvei's (NVEI) Simplex Banking, the new cards simplify the fiat-to-crypto on-ramp and off-ramp process, creating a unified way for individuals to spend the funds from their crypto sales. "Thanks to Visa, we have created a straightforward and simple program that is tailored to the crypto industry in terms of compliance, risk, time-to-market and costs," said Simplex CEO Nimrod Lehavi. "Our Visa card program has already seen huge success across Europe and in the UK." Shares of (NVEI -0.2%) slightly declines; Visa (V -1.5%) slips. Last week, Nuvei expanded its local acquiring services to merchants.