Leading Fiat On-Ramp to Broaden Reach of XEM and NEM Ecosystem
Gibraltar - 28 October, 2020 - NEM today announced their partnership with Simplex, the leading fiat infrastructure provider, to make XEM, NEM’s native token, purchasable by credit and debit card across Simplex’s global network of partners, including exchanges, brokers, and wallets.
Commenting on the news, Nicholas Pelecanos, Head of Trading at NEM, “We’re excited to make XEM more globally accessible through Simplex’s vast network of partners and exchanges. Simplex’s user experience is unparalleled, and we’re thrilled to work with this industry behemoth to extend NEM’s global reach. This will enable anyone, anywhere, to have a foray into NEM and the digital assets space, democratizing access and propelling the industry forward to the next phase of adoption.”
Simplex’s fiat credit and debit purchase options offer a simplified process for individuals entering the cryptocurrency space. This partnership will provide an easy global on-ramp to XEM, enabling access to Simplex's extensive network of exchanges globally. By providing users with greater flexibility in purchasing, Simplex will broaden the reach of XEM.
As the leading, risk-free, fiat infrastructure provider for the cryptocurrency market, Simplex is a licensed EU financial institution. The payment processor uses artificial intelligence (AI) technology to analyze every transaction using proprietary, fully automated, machine-learning algorithms that eliminate fraud, while increasing conversion.
XEM is the native currency of NIS1, NEM’s original blockchain platform. NEM recently announced the opt-in process to Symbol, in which users will be eligible to receive equivalent XEM=XYM tokens on Symbol, the next-generation enterprise-grade blockchain solution from NEM, purpose-built to help businesses cut costs, reduce complexities, and streamline innovation. To accommodate existing NIS1 users, the two chains will continue to run side-by-side.
“Simplex gives anyone, anywhere, the ability to buy crypto securely and easily”, said Nimrod Lehavi, Simplex CEO and founder. “We're excited to partner with NEM Group to give millions of people access to XEM, through our network of trusted partners.”
About NEM Group
NEM Group supports the development of Symbol from NEM, a trusted and secure enterprise blockchain that smooths business friction, increasing the flow of data and innovation to supercharge the creation, exchange and protection of assets.
NEM Group comprises three separate entities: NEM Software, NEM Trading, and NEM Ventures. NEM Group shapes the future of blockchain by nurturing a strong and healthy ecosystem that will contribute to the development of blockchain technology for generations to come.
Simplex has been changing the status quo of crypto on/off ramps since 2014. As the market leader, we pioneered the first riskless global fiat onramp using a credit and debit card, which promises a zero chargeback guarantee. Simplex Banking offers the Simplex fraudless payment processing, with global payment accessibility. Working alongside the biggest names in the crypto ecosystem, including Binance, Huobi, Bitpay, among hundreds of others, Simplex provides the complete fiat infrastructure for the cryptocurrency ecosystem. As a licensed EU financial institution, Simplex was selected as one of the 10 most impactful companies in blockchain in 2020. Put simply, Simplex is making crypto accessible to humans, turning the complex into the Simplex. Keep up with the latest Simplex news by following them on Twitter or visiting www.simplex.com.
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Nicholas Pelecanos is available for interviews.