Share this article
Crypto Card Provider Simplex Being Acquired by Canadian Firm for $250M
The Visa network member provides users with crypto on-ramp/off-ramp capabilities using debit and credit cards.
Updated May 9, 2023, 3:19 a.m. Published May 7, 2021, 8:19 a.m.
Make us preferred on Google
Crypto payments startup Simplex is being acquired by Canadian payments processor Nuvei.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The deal, which is subject to regulatory approval, will be worth $250 million to be paid in cash, according to an announcement Thursday.
- An Israeli firm founded in 2014, Simplex provides users with on-ramp/off-ramp capabilities using debit and credit cards.
- In December 2020, Simplex gained membership of Visa’s network, allowing it to issue Visa cards.
- The acquisition would also give Nuvei future banking capabilities because Simplex has an electronic money institution (EMI) license in the European Union.
- The news comes soon after Nuvei’s March announcement that it was adding payment support for nearly 40 cryptocurrencies for e-commerce merchants on its network.
- Simplex CEO Nimrod Lehavi said joining Nuvei would enable Simplex to “fulfill its promise of bridging the gap between the blockchain space and the traditional finance world.”
Also read: Opera Adds In-Browser Crypto Options With Simplex Integration
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
