Simplex Gets Principal Membership from Visa

Payment provider Simplex announced that it has got principal membership from Visa. Founded in 2014, Simplex is an EU-licensed financial institution, providing the fiat infrastructure for the crypto industry. 

The membership will allow the company to issue Visa debit cards to its customers that include popular crypto exchanges and wallets. 

Nimrod Lehavi, Co-founder and CEO of Simplex, commented:"Visa has been a valued component of the Simplex solution since we began our journey seven years ago, enabling people throughout the world to easily purchase cryptocurrency using their Visa cards,”

“Today, Simplex is provisionally approved for principal membership to the Visa network. Our vision is to help create a world in which all currencies are accessible, regardless of where you are. This collaboration is a huge leap forward to enabling the world to have true financial freedom.”

The membership comes less than a month after Simplex launched its new banking service, enabling crypto firms to offer local and global payment methods to their users. Lehavi said offering Visa cards was a "clear next step to help our partners grow enablement to their users."

Let's recall that digital payment platform Wirex has become a principal member of the Visa in Europe. The payment platform is also preparing the ground to land in the US market, as they're about to launch a single currency Visa card.