Canadian fintech Nuvei has announced a new off-ramp solution that enables crypto-to-fiat currency transactions via debit, credit and prepaid cards.
European Nuvei users will be supported with a rapid and user-friendly solution, designed to seamlessly convert a wide range of supported digital assets into their preferred fiat currency.
Users can then transfer the funds to their eligible Mastercard in near real-time, leveraging Mastercard Move’s money movement capabilities. Without the need for third-party exchanges or money service businesses, the integrated solution aims to simplify digital value into global spending circulation.
Philip Fayer, Chair and CEO of Nuvei, commented: “We’re excited to collaborate with Mastercard to accommodate access liquidity and payments for Digital Asset holders.
“Our mission is to enable businesses and their customers to connect through payments, wherever consumers are and however they want to pay. Offering crypto off-ramps through our single integration aligns perfectly with this mission to facilitate frictionless transactions across the digital economy.”
With this latest solution, Nuvei is aiming to bridge the gap between digital and traditional finance on Mastercard’s global network, also integrated into the fintech’s modular payment platform.
Nuvei’s off-ramp solution with Mastercard is the latest example of its strategy to connect the worlds of traditional payments, Open Banking and blockchain technology into a seamless experience.
Christian Rau, SVP of Fintech and Crypto Enablement, Mastercard Europe, added: “Enabling the choice of how consumers can engage in Digital Assets in a safe, simple and secure manner in line with all relevant regulation is at the heart of our strategy in this space.
“Combining our global network of partners and digital solutions with Nuvei’s advanced integration opens new opportunities and choices for businesses engaging in digital assets and consumers alike.”