View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
April 10, 2019

Edge, Simplex partner to allow users spend crypto directly from credit card

Edge, a US-based non-custodial wallet and exchange platform, has partnered with payment processing firm Simplex for the beta release of its new crypto cash out functionality.

The partnership will allow Edge users to sell cryptocurrencies directly to their Visa and Mastercard credit cards.

Customers can now spend cryptocurrencies such as Bitcoin, Ethereum, and Ripple directly from their credit cards across the world.

The cash out functionality provides users the same advantages as the crypto debit cards. They can also avail the benefits of established reward points or mileage programmes.

Edge CEO Paul Puey said: “Simplex has been an early leader in offering crypto payment processing, allowing people to acquire bitcoin and other cryptocurrencies with credit cards around the world.

“Now users have the freedom to effectively spend crypto directly from their credit card of choice. Since our founding in 2014, making crypto usable as a transactional currency has been one of our top priorities and this new functionality brings us a major step closer to that dream.”

Simplex CEO Nimrod Lehavi said: “One of the main concerns of mainstream new users is cashing out after they have bought in, and we’re excited to start enabling it.

“We’re certain that this capability will increase crypto adoption by freeing users to do as they see fit.”

For non US Visa card holders, the iOs beta version of this platform has already been released. The Android beta release will be launched soon, the company said.

In February this year, Netcoins, a cryptocurrency exchange based in Canada, collaborated Simplex to support the purchase of cryptocurrencies with credit cards.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy