Payment service provider Nuvei will support nearly 40 crypto assets including lesser known coins operating from previous market cycles, such as Reddcoin, Steem, Bitcoin Gold, and Siacoin.
E-commerce merchants can now transact for nearly 40 cryptocurrencies through the global payment platform Nuvei.
According to the announcement, merchants working with payment providers can use a wide range of cryptocurrencies to send and receive payments across 200 countries, including top assets Bitcoin (BTC) and Ether. (ETH), lesser known cryptocurrencies like Reddcoin and Bitcoin Gold, and even hyper volatile ones like Dogecoin (DOGE).
Nuvei’s customers can even use Ripple (XRP), despite the recent legal troubles of the asset and the successive malfunctions from major exchanges.
Commenting on the launch, Mr. Philip Fayer, CEO and President of Nuvei, described the company’s support for crypto assets:
“Empower our customers, large and small, with an easy checkout experience and a greater opportunity to enter a global marketplace.”
The announcement also affirms crypto asset transactions that will provide “Advanced security, privacy, and integrity“For Nuvei users when compared to traditional fiat payment methods. However, many crypto assets supported by Nuvei have previously been subjected to 51% attacks.
In the last quarter of 2020, Nuvei handled nearly $ 14 billion from merchants, the company handled a volume of $ 43 billion in the entire 2020.
Nuvei’s announcement comes as the competition among traditional payment providers entering the cryptocurrency sector is heating up.
On March 29, Visa announced a pilot program that allows all of its partners to use the Ethereum blockchain to settle transactions made in fiat. Solution using stablecoin USDC to facilitate transactions.
Late last year, Paypal announced that it would start offering crypto services to users including the ability to buy and trade them.
On March 22, the US-based online shopping app Buyaladdin announced that it will start accepting BTC and ETH across multiple shopping centers in South Korea.
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