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May 20, 2021

FIS to support cryptocurrency exchange CEX.IO with debit card launch

FIS has agreed to support cryptocurrency exchange CEX.IO with the launch of a new line of consumer debit cards.

The fintech firm will provide card management and processing services for the crypto-based consumer cards across Europe.

The launch of new cards will add traditional debit capabilities to the cryptocurrency accounts.

As agreed, FIS Debit & Prepaid Platform will manage all aspects of card management and processing for the new card line. The scope of services will include purchase authorisation, risk management and regulatory compliance.

FIS Payment Solutions head Kelly Beatty said: “As cryptocurrencies continue to gain mainstream adoption, consumers are increasingly seeking simple, convenient payment methods for making crypto-based purchases using cards and other familiar financial products.

“We’re delighted to expand our relationship with CEX.IO to help them provide exciting new card options to their customers and support their continued growth.”

CEX.IO executive director Konstantin Anissimov said: “FIS and Worldpay have proved to be a trusted and reliable technology partner and we are thrilled to have expanded our relationship with them.

“Their expertise and industry know-how will help us simplify our business operations and help us seamlessly introduce virtual and physical cards to our customers.”

Headquartered in Florida, FIS offers an array of financial products and services.

According to a statement, the company processes billions of transactions annually across 146 countries.

In March, FIS Global entered into a global partnership with Danish fintech Cardlay.

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