Ledger partners with Nuvei to enable buying crypto using fiat funding methods

2022-3-17 17:41

Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI) has today announced its partnership with Ledger, the leading cryptocurrency hardware wallet provider. The partnership will enable direct on-ramps for millions of ledger wallet users.

Ledger users will be able to purchase more than 125 cryptocurrencies supported by the Ledger wallet using fiat funding methods through the Simplex Nuvei solution.

Ledger users will only require to access Ledger live, the companion desktop and mobile app for Ledger hardware wallet products, and they shall be able to buy cryptocurrencies directly using MasterCard, Visa cards, SEPA, and SWIFT among other options.

Following the partnership, the Chair and CEO of Nuvei Philip Fayer said:

“We’re excited to partner with Ledger to let more and more users easily acquire crypto with maximum security. With the number of possible verified uses of crypto in the ecosystem ever increasing, having easy onramps within the wallet is key for the continued growth of the sector.”

On the other hand, the VP of International Development at Ledger Jean-François Rochet said:

“Ledger Live is the gateway for digital assets and Web3, and we’re excited to broaden the on-ramp offering on Ledger Live. Simplex by Nuvei is bringing more choice to Ledger customers and focuses on making it easier to enjoy all of the benefits of crypto without centralized custodians.”

Seamless buying of crypto using fiat

Ledger users will no longer be required to purchase cryptocurrencies through external exchanges or fiat-to-crypto payment gateways. All a Ledger wallet holder will require is some fiat in their bank account and a corresponding fiat payment method

This is paramount to maximizing the security of crypto assets and ensuring ease of use of the hardware wallet since the additional steps requiring opening an account with a crypto exchange or fiat-to-crypto gateway will no longer be required in the buying process.

Whenever a third party was involved Ledger users were required to first exit the security of the devices to purchase coins and then store the coins on the wallet. The security of the coins before the coins got into the wallet was not guaranteed.

Nuvei guarantees maximum security

Simplex by Nuvei guarantees maximum protection against fraud, check backs, and other inconveniences that could occur during the purchasing process.

While Nuvei handles the security aspect, Ledger can focus on providing value to its users.

Besides just storing crypto assets, Ledger holders can use the Ledger live app to stake crypto assets, access various DeFi platforms, manage NFTs and also purchase cryptocurrencies including using Simplex by Nuvei.

The post Ledger partners with Nuvei to enable buying crypto using fiat funding methods appeared first on Invezz.

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