The fiat-to-cryptocurrency infrastructure provider Simplex has announced that it has integrated with the public blockchain platform Cardano and has also included its native cryptocurrency ADA into its list of supported digital currencies. The partnership between Simplex and Cardano will also let users of Simplex purchase ADA tokens directly from Apple Pay as well as from Credit Cards. This announcement also affected the price value of the native crypto of Cardano, which started rising in the upward direction.
Simplex has integrated with the Cardano blockchain and has added support for the ADA cryptocurrency after noticing an exponential spike in demand for this digital currency from retail traders and investors. By including ADA into its crypto offering, it would now be able to meet the growing retail demand.
Due to this integration of Cardano with Simplex, users will now have the opportunity to buy ADA digital currency using their preferred payment methods such as Apple Pay, credit or debit card, SWIFT, or SEPA. Simplex offers a secure and convenient environment to users for making their purchases.
In its announcement, Simplex stated that the development activity, as well as the growing popularity of Cardano, was one of the main reasons due to which the company took this decision of adding support for ADA. The company said that it critically examined the Cardano blockchain and its native digital currency before taking the decision. The company stated that it firmly believes in the potential of Cardano, which can affect the different spheres of life in a positive way.
The firm even called Cardano a secured blockchain, saying that it has the capability of protecting billions of data on its platform. Moreover, it can easily facilitate global systems due to its high scalability.
Simplex is a properly regulated company as it is licensed by European Union (EU). It registered a significant achievement last year when it became the Visa network’s principal member.
Following the announcement, the price value of ADA rose up and cross the figure of $1.30. The sixth-ranked digital currency has been able to recover some of the loss that it faced in the recent market crash. However, it has not been able to completely pull away from the bearish sentiment as the price of ADA is still slightly down at the moment.