Nuvei (TSX:NVEI) adds payment solution for 40 cryptos

TSX:NVEI.U

Jocelyn Aspa
Markets Reporter
jocelyn.aspa@themarketonline.ca

29 March 2021 18:01 (EDT)

Nuvei (TSX:NVEI) has added payment solutions for roughly 40 cryptocurrencies to its platform
Cryptocurrencies supported include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO and Ripple
The addition of cryptocurrencies as a payment method makes innovative payment options accessible for consumers in smaller markets
Merchants and consumers can easily conduct cross-border business with the addition of cryptocurrencies to NVI’s platform
Consumers will also benefit from secure payment transactions associated with cryptocurrencies
Shares of Nuvei were down 2.01 per cent to close on Monday at C$71.08

Nuvei (TSX:NVI), a Montreal-based electronic payment solutions company, has announced it has added roughly 40 cryptocurrencies to its pay-in and pay-out support platform.

Cryptocurrencies added to the company’s method of payments include leading digital currencies such as Bitcoin, Ethereum, Litecoin, NEO, Bitcoin Cash and Ripple.

Nuvei’s platform is available in over 200 global markets where it provides access to these top cryptocurrencies in addition to providing support to nearly 150 currencies. Consumers can now easily conduct cross-border business safely and securely thanks to enhanced security associated with cryptocurrencies.

“We’re excited to provide yet another pioneering solution that empowers our clients, large and small, with frictionless payment experiences and a greater opportunity to partake in a global marketplace,” Philip Fayer, chairman and CEO of Nuvei, said in a press release.

Over the last several years, cryptocurrencies have taken the world by storm as not only has the market capitalization of cryptos increased, but also the number of cryptocurrencies.

According to Coinmarketcap.com, the global market cap of cryptocurrencies is approximately US$1.6 trillion, while the number of cryptocurrencies has soared past 4,000.

With the addition of cryptocurrencies to Nuvei’s platform, the payment solutions company can also facilitate transactions in the Non-Fungible Tokens (NFTs) sector of the crypto world.

NFTs are singular digital files that can represent tangible and intangible items and include things such as collectibles, artwork and videos, or other one-of-a-kind assets.

Year-to-date, sales of NFTs have surpassed $174 million, according to nonfungible.com.

Shares of Nuvei dipped 2.01 per cent on Monday to close at C$71.08.

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