Payment Provider Nuvei Announces Support For New Cryptocurrencies

The digital asset industry continues to thrive despite the controversies surrounding the investment class. Popular payment platform, Nuvei revealed that it is working on supporting 40 new cryptocurrencies as it commences expansion plans. Many payment platforms have taken a bold step to ensure their customers have access to digital asset services. The firm’s new move would likely attract more crypto holders as the new support would make things easier for managing their investment plans.

Asides from the well-known cryptos, the platform also added some altcoins, such as Reddcoin and Bitcoin Gold. This shows that the industry is growing at an impressive rate that would attract the mainstream into investing. This would likely improve adoption and services offered to small-scale investors.

Nuvei supports over 40 cryptos

Online merchants can now accept digital assets through Nuvei’s support. This means that the sellers can accept payments in over 40 cryptos with the payment provider’s help. This is great news to digital asset holders who prefer to transact directly with their digital assets and merchants who want crypto support to boost sales.

The new announcement shows that merchants in collaboration with the company can benefit from these new services. Aside from accepting digital assets, merchants can also send cryptos as payment forms across over 100 nations. Some of the cryptos the platform supports are Bitcoin, Ethereum, Dogecoin, and Bitcoin Gold.

The payment platform also supports Ripple, despite the ongoing legal issues the fintech is facing following the alleged sales of the XRP tokens. The asset has lost support on many exchanges, but this medium would allow holders to use their assets once again. The firm’s Chief Executive Officer, Philip Fayer, spoke on its new support for digital assets.

He believes that the new listing would empower the firm’s clients through a seamless payment means and a way of participating with the global community. The firm believes that the support for digital assets would improve security, privacy, and integrity to users as opposed to fiat currency.

Payment firms joining the industry

Interestingly, the firm has experienced numerous 51% attacks on digital assets it supports previously. Still, the firm has some dominance in the digital asset industry as it processed billions of transactions with last year’s first quarter.

Nuevei had processed around $43 billion at the end of the year, showing that it has been working towards ensuring better payment options for its clients. Since Bitcoin’s boom in 2020, many mainstream firms have joined the crypto space to benefit from a possible price growth and facilitate crypto-related transactions.

This is now a competition amongst newly joined mainstream firms trying to find ground in the growing sector. Other competitors like PayPal joined the digital asset industry in late 2020 and have continually expanded to ensure more services. As a mainstream firm, PayPal has influenced many people into investing in cryptocurrencies, and this improved adoption. Although the firm’s services are very limited, the payment company explained that it would expand services before the year ends.

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