Nuvei adds pay-in & payout support for nearly 40 Cryptocurrencies

By Pavithra R

Nuvei, the global payment technology partner of thriving brands, has announced the addition of pay-in and payout support for nearly 40 of the leading cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO, Ripple and more.

With the announcement, eCommerce merchants can now join the cryptocurrency revolution offering innovative payment methods to access more global customers, even in hard to reach countries. Merchants can now conduct business across borders, as well as beyond the bounds of the fiat ecosystem. They can also benefit from enhanced security, privacy and integrity of transactions inherent with cryptocurrencies.

According to CoinMarketCap, the mainstream adoption of cryptocurrencies has increased steadily, with the current estimated global market capitalization reaching approximately $1.6 tn. As the number of cryptocurrency holders continues to escalate, merchants stand to grow their overall market share by accepting it as another alternative payment method (APM). Supporting cryptocurrencies represents a sizable market opportunity for merchants to attract more buyers worldwide. Besides, cryptocurrency payments are increasingly becoming more significant for industries offering large ticket and high volume goods and services.

“We’re excited to provide yet another pioneering solution that empowers our clients, large and small, with frictionless payment experiences and a greater opportunity to partake in a global marketplace. Nuvei continuously strives to offer the most relevant payment mediums for our clients and their customers. Our cryptocurrency support provides convenient, secure and instant transaction processing through a single integration,” said Philip Fayer, Nuvei’s chairman and CEO.

Nuvei is active in over 200 global markets and enables access to cryptocurrencies in addition to supporting nearly 150 local currencies and over 455 APMs. With the addition of cryptocurrencies to its platform, Nuvei can now facilitated transactions for the growing interest in Non-Fungible Tokens (NFTs) underpinned by blockchain technology.