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Nuvei Corporation, a Canadian fintech company, announced a
partnership with Mastercard today. This partnership will launch a new
off-ramping solution in Europe. The solution allows consumers to convert their
digital assets, including cryptocurrencies, into traditional fiat currency.
They can do this using debit, credit, and prepaid cards.
Digital Finance Bridge
This new function bridges digital and traditional finance.
Consumers can spend their converted funds through Mastercard’s global network.
The off-ramping solution is part of Nuvei’s modular payment platform. It aims
to offer a simple and secure user experience.
Consumers can convert a wide range of supported digital
assets into fiat currency. They can then transfer the funds to their eligible
Mastercard in near real-time. This process uses Mastercard Move’s money
movement capabilities. The integrated solution removes the need for third-party
exchanges or money service businesses.
“We’re excited to collaborate with Mastercard to
accommodate access liquidity and payments for Digital Asset holders,” commented Philip Fayer, Chair and CEO of Nuvei.
“Our mission is to enable
businesses and their customers to connect through payments, wherever consumers
are and however they want to pay. Offering crypto off-ramps through our single
integration aligns perfectly with this mission to facilitate frictionless
transactions across the digital economy.”
Nuvei introduces off-ramping of Digital Assets to cards via Mastercard Move in Europe https://t.co/VXicQFHfWN #2024Trends #blockchain #banking #futuretechnology #financetechnology
— Global FinTech Series (@FinTech_Series) July 11, 2024
Blockchain Payment Integration
Nuvei’s off-ramp solution with Mastercard is part of its
strategy. It aims to connect traditional payments, open banking, and blockchain
technology into one seamless experience.
“Enabling choice how consumers can engage in Digital
Assets in a safe, simple and secure manner in line with all relevant regulation is at the heart of our strategy in this space,” added Christian Rau,
Senior Vice President, Fintech and Crypto Enablement, Mastercard Europe.
“Combining our global network of partners and digital solutions with
Nuvei’s advanced integration opens new opportunities and choice for businesses
engaging in digital assets and consumers alike.”
This article was written by Tareq Sikder at www.financemagnates.com.
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