Bitfinex, a leading cryptocurrency exchange, has today announced a strategic partnership with the Nuvei-subsidiary Simplex platform. Notably, Bitfinex has cited that its customers with an intermediate verification level will be able to access the new services right away.
Following the partnership with a leading fiat-crypto gateway provider, Bitfinex customers can purchase digital assets using their debit or credit cards. To start with, users will only have access to leading digital assets including Bitcoin, Ethereum, Tether USD, and Tether Gold. However, plans are already in place to enlist more digital assets as the whole industry grows to a new level.
“We are thrilled to announce our collaboration with Bitfinex,” said Nimrod Lehavi, CEO and Co-founder of Simplex, a Nuvei company. “Bitfinex is a great addition to our strong roster of crypto businesses and exchanges. Our goal is to make cryptocurrency accessible to everyone.”
“Our mission has always been to increase the accessibility of digital tokens and provide an optimal trading experience for our growing customer base,” said Paolo Ardoino, CTO at Bitfinex.
Notably, Nuvei announced the acquisition of Simplex at the beginning of September. Previously, Simplex operated as a single entity, it has earned its respectable position of helping retail investors access the crypto market securely and seamlessly.
According to its data, Bitfinex reported a 24 hour traded volume of $1,593,799,953, its seven days at $23,855,173,109 while its 30 days at $90,310,634,966.
The partnership will significantly increase crypto adoption to people who were previously restricted by limited options. Nevertheless, both firms will significantly benefit from each other’s prior market success. Moreover, the level of competition in the crypto exchange industry compels the existing ones to level up.
Decentralized exchanges that operate on a trustless basis have gained more traction in the past year. However, the need for a reliable platform to enable peer-to-peer transactions continues to grow. Furthermore, there are few options for most users to fully liquidate digits assets to various currencies when the need arises.
Having a reliable platform like Simplex to help retail investors access digital assets through their respective bank accounts is a huge plus for the whole industry.