Nuvei Corporation (NVEI), a leading Canadian fintech company, announced a partnership with Mastercard to launch a new off-ramping solution for European consumers. This solution allows users to seamlessly convert their digital assets, including cryptocurrencies, into traditional fiat currency spendable via debit, credit, and prepaid Mastercard cards.
Bridging the Gap Between Digital and Traditional Finance
The integrated solution streamlines the process by eliminating the need for third-party exchanges or money service businesses. Consumers can directly convert their supported digital assets into fiat currency and transfer the funds to their Mastercard in near real-time* through Mastercard Move’s money movement capabilities.
“We are excited to collaborate with Mastercard to provide convenient access to liquidity and payments for digital asset holders,” stated Philip Fayer, Chair and CEO of Nuvei. “Our mission is to empower businesses and their customers to connect seamlessly through payments. Offering crypto off-ramping aligns perfectly with this mission, facilitating frictionless transactions within the digital economy.”
Prioritizing Security and User Experience
The off-ramping process is designed for speed and user-friendliness. Mastercard emphasizes its commitment to enabling safe and secure engagement with digital assets, complying with all relevant regulations.
“Our strategy prioritizes offering consumers choice in how they engage with digital assets in a safe and simple manner,” said Christian Rau, Senior Vice President, Fintech and Crypto Enablement, Mastercard Europe. “By combining our global network with Nuvei’s advanced integration, we unlock new opportunities for businesses and consumers in the digital asset space.”
Nuvei’s Commitment to Innovation
This collaboration exemplifies Nuvei’s ongoing strategy to bridge the gap between traditional payments, open banking, and blockchain technology, ultimately creating a more seamless financial experience.
*Please note: Actual posting times for approved transactions may vary depending on the receiving financial institution.
