Ecommerce merchants can now transact in nearly 40 cryptocurrencies through the global payments platform Nuvei.
According to the announcement, merchants partnering with the payment provider can use an array of cryptocurrencies to send and receive payments in 200 countries, including major assets Bitcoin (BTC) and Ether (ETH), cryptos less. known such as Reddcoin and Bitcoin Gold, and even hyper-volatile coins like Dogecoin (DOGE).
Nuvei clients can even use Ripple (XRP), despite recent legal issues with the asset and subsequent write-offs from major exchanges.
Commenting on the launch, Nuvei CEO and Chairman Philip Fayer described the company’s support for crypto assets as “empowering[ing] our customers, large and small, with seamless payment experiences and a greater opportunity to participate in a global market. “
The announcement also claims that crypto asset transactions will provide “enhanced security, privacy and integrity” to Nuvei users over traditional fiat payment methods. However, several crypto assets supported by Nuvei have already come under attack at 51%.
In the last quarter of 2020, Nuvei processed nearly $ 14 billion with merchants, with the company managing $ 43 billion in all of 2020.
Nuvei’s announcement comes as competition between traditional payment providers entering the crypto industry heats up.
On March 29, Visa announced a pilot program allowing all of its partners to use the Ethereum blockchain to settle transactions made in fiat. The solution uses the USDC stablecoin to clear transactions.
Late last year, Paypal announced that it would start offering cryptocurrency services to its users, including the ability for them to buy and trade them.
On March 22, the US-based online shopping app Buyaladdin announced that it would start accepting BTC and ETH at several malls in South Korea.