• FTX and Nuvei have announced a partnership to provide instant payments

  • The collaboration will benefit both parties. Following last week’s market failure, Nuvei will increase its influence and strengthen its reputation. Meanwhile, FTX will provide its users with access to Nuvei’s advanced payment solutions, allowing them to purchase cryptos much more quickly.

    FTX Trading Ltd., the owner and operator of the world’s leading cryptocurrency exchange FTX.COM, has announced a partnership with Nuvei Corp., Canada’s leading digital payment company (NASDAQ: NVEI). FTX and Nuvei will collaborate to provide instant payment solutions as well as instant deposits for high-value transactions.

    Nuvei CEO Philip Fayer expressed his excitement about the collaboration with FTX in a press release:

    “Our collaboration with FTX demonstrates Nuvei’s leadership in the growing cryptocurrency vertical and demonstrates our ability to provide innovative solutions for customers of all types all over the world.” FTX is one of the world’s largest digital currency exchanges, and we are excited to collaborate with them to help simplify their customers’ transaction experiences and speed up processing times.”

    “Together, we will provide instant payment deposits, enabling higher-value transactions that are frequently required in cryptocurrency trading.” “We look forward to continuing our collaboration with FTX and expanding the partnership to provide more APMs and enable payouts, bringing the most recent innovations to their payment capabilities,” he added.

    Sam Bankman-Fried, CEO of FTX, stated:

    “We want our users to have a frictionless experience and to be able to seamlessly convert from fiat to crypto and back.” We are excited to collaborate with an innovative company like Nuvei to provide our users with a dependable payment on-ramp and off-ramp.”

    The collaboration will benefit both parties. Following last week’s market failure, Nuvei will increase its influence and strengthen its reputation. Its shares, in particular, fell by more than 40% in a single day following a negative short report from Spruce Point Capital Management. Meanwhile, FTX users will have access to Nuvei’s advanced payment solutions. It will also enable them to purchase cryptos much more quickly and securely.

    Nuvei’s Collaboration with Visa

    Nuvei is a Canadian electronic payments company specializing in payment technology solutions. Its primary markets include North America, Europe, Asia Pacific, and Latin America. It connects merchants and customers in over 200 markets around the world, with local acquiring in 45 of them. It accepts over 500 local and alternative payment methods, as well as nearly 150 currencies and 40 cryptocurrencies. End-to-end payments processing, multi-currency authorization and settlement, a global gateway for acquirers and processors, a checkout solution, smart routing technology, and other services are available. Nuvei accepts over 500 local and alternative payment methods, as well as nearly 150 currencies and 40 cryptocurrencies.

    Nuvei has recently been actively expanding its partner base. Nuvei also announced a collaboration agreement with Visa Inc. shortly before the partnership with FTX (NYSE: V). Both companies collaborated on the launch of Visa debit cards throughout the European Economic Area and the United Kingdom. The new cards, along with Nuvei’s Simplex Banking, will make the fiat-to-crypto on-ramp and off-ramp process easier. As a result, it will create a unified way for people to use and spend the funds from their cryptocurrency sales. Furthermore, customers will have the same spending power with their crypto holdings as they would with traditional currencies with the new cards.

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