EQIFi launches Simplex by Nuvei integration to enable EQX and other crypto onramps

By Joy Dumasia

Simplex by Nuvei, the fiat-to-crypto gateway provider, is collaborating with the DeFi project EQIFi to facilitate purchase and on-ramping for EQX, EQIFi’s native utility token.

With the integration, users can purchase EQX with debit/credit cards, Apple Pay and bank transfers directly via Simplex and its partners. Additionally, there is now an opportunity for Simplex and EQIFi to widen their reach, making it easy for new crypto users to jump in with seamless and safe transactions.

“EQIFi is a very promising project launched by a major digital bank. We are excited to support them in our suite of services”, said Nimrod Lehavi, CEO and Co-Founder at Simplex by Nuvei. “Simplex and EQIFi share the same mission: to make crypto and DeFi accessible to everyone.”

EQIFi is the only decentralised platform supported by a major digital bank. The full suite of DeFi products available on EQIFi has made the platform very popular with crypto users, who have been able to make peer-to-peer transactions, take loans with fixed or variable rates, earn interest on deposited assets and grow their wallets with the yield aggregator, all while having full custody through the support of Ledger Vaults, the secure custody hardware provider.

The EQX tokens improve the overall experience of using the app, enabling EQIFi users to gain staking rewards, low-cost loans, discounts on fees, a 10% increase in APY, higher LTVs for larger loans and priority access to EQIBank Accounts.

“Simplex and Nuvei are veterans of their field, having brought many a new user into crypto with their products,” said Bulent Brad Yasar, Founder and CEO at EQIFi. “For us at EQIFi, it is critical for our users to be able to access the platform as simply and safely as possible, and we’re happy to include Simplex’s reliable and proven service for this.”

IBS Intelligence reported that e-Money, a Danish blockchain-based payment platform, has integrated with payment processor Simplex by Nuvei to create a fiat on-ramp for EEUR, a fully collateralised interest-bearing stablecoin issued by e-Money.