Payment service provider Nuvei claims to support 40 coins, including XRP and DOGE

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2021-03-31 03:58:59

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Nuvei, the Montreal-based electronic payment processing company, has announced that it will support 40 cryptocurrencies including lesser known ones, such as Reddcoin, Steem, and Siacoin.

Nuvei has allowed businesses partnering with them to use a wide range of cryptocurrencies to send and receive payments in over 200 countries, including Bitcoin, Ethereum, Litecoin, NEO, Dogecoin or coins. known as Reddcoin, Steem, Siacoin… (go to Nuvei’s website for more details).

Nuvei’s partner could even use XRP, despite Ripple’s recent legal troubles with the SEC.

Philip Fayer, CEO and President of Nuvei, has described the company’s support for cryptocurrencies as “wanting to help businesses get closer to crypto, the use of cryptocurrencies will bring to easier checkout experiences ”.

In addition, the head of Nuvei believes that “cryptocurrencies will provide a greater opportunity to enter the global market”.

In the recent announcement, Nuvei confirmed that adopting a cryptocurrency payment transaction has many advantages over traditional fiat payment methods. Security, privacy, and integrity are all better, for example.

In the final quarter of 2020, Nuvei handled nearly $ 14 billion from merchants and businesses. During the entire 2020 period, this company handled a total of $ 43 billion.

Nuvei’s announcement comes as the competition among traditional payment providers entering the cryptocurrency payments sector is getting hotter.

Recently, a series of big names announced they will jump into this field:

  • On March 29, Visa announced a pilot program allowing all of its partners to use the Ethereum blockchain to settle transactions made using fiat. Solution using stablecoin USDC to process transactions.
  • Late last year, Paypal announced that it would start offering crypto services to users, including support for buying and selling cryptocurrencies.
  • On March 22, online shopping app Buyaladdin announced it would start accepting Bitcoin and Ethereum at shopping malls in South Korea.

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