#CryptoCurrency #PayTech / Payments company Nuvei enters agreement to acquire Simplex for $250 million in cash

The acquisition will give Nuevi an electronic money institution license to offer “IBAN accounts” to users and companies. Also, it can offer future banking and card issuing capabilities…

[CEO:] “We expect Simplex to enhance and expand Nuvei’s steadily growing portfolio of alternative payment methods, adding turnkey simplicity to the process of buying and selling cryptocurrency and converting it back to fiat within a user account – ultimately reducing complexity for merchants and consumers.”

Simplex is a “fiat-cryptocurrency gateway,” that connects exchanges, brokers, wallet and liquidity providers. The startup, which was founded in 2014, provides the infrastructure for users to buy or sell crypto using credit and debit cards.