Blockchain operator NEM has announced a partnership with Simplex, a fiat infrastructure provider, to make the NEM’s native XEM token available for purchase by credit and debit card.
Simplex has a diverse global network of partners, including exchanges, brokers and wallets. It is also a licensed EU financial institution.
NEM’s Head of Trading, Nicholas Pelecanos, said: “We’re excited to make XEM more globally accessible through Simplex’s vast network of partners and exchanges.
“Simplex’s user experience is unparalleled, and we’re thrilled to work with this industry behemoth to extend NEM’s global reach. This will enable anyone, anywhere, to have a foray into NEM and the digital assets space, democratising access and propelling the industry forward to the next phase of adoption.”
Opt-in is now open! Please go to https://t.co/Mw77Psjlc1 to start your opt-in journey. Please note, at this juncture, you will only be able to opt-in via the desktop wallet. The new #NEM mobile wallets are with Google Play & AppStore awaiting onboarding.#XEM #XYM #SYMBOL #Optin pic.twitter.com/12ie7KlW2T
— NEM (@NEMofficial) September 15, 2020
Simplex’s purchase options offer a new fiat on ramp for individuals that want to invest in cryptocurrencies, which will in turn drive mass adoption.
The payment processor uses artificial intelligence (AI) technology to analyse every transaction using proprietary, fully automated, machine-learning algorithms that eliminate fraud, while increasing conversion.
“Simplex gives anyone, anywhere, the ability to buy crypto securely and easily”, said Nimrod Lehavi, Simplex CEO and founder. “We’re excited to partner with NEM Group to give millions of people access to XEM, through our network of trusted partners.”
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.