Payments firm Nuvei launches support for 40 cryptos including Reddcoin and DOGE

E-commerce merchants can now conduct transactions in nearly 40 cryptocurrencies through Nuvei’s global payment platform.

According to the announcement, merchants working with the payment processor can use a wide range of cryptocurrencies to send and receive payments in 200 countries, including the major cryptocurrencies Bitcoin (BTC) and Ether (ETH), lesser-known cryptocurrencies like Reddcoin and Bitcoin Gold, and even super-coins like Dogecoin (DOGE).

Nuwei customers can even use Ripple (XRP), despite recent legal problems with the asset and its subsequent exclusion from major exchanges.

Commenting on the launch, Philip Fayer, CEO of Nuvei, described the company’s support for crypto assets as a way for our customers, large and small, to become cashless and give them more opportunities to participate in the global marketplace.

The announcement also claims that crypto asset transactions will offer more security, privacy and integrity to Nuwei users compared to traditional fiat payment methods. However, several Nuwei-backed crypto assets have already come under 51% fire.

In the last quarter of 2020, Nuwei processed nearly $14 billion from merchants, and the company processed $43 billion in the full year 2020.

Nuvei’s announcement comes at a time of increased competition among traditional payment providers entering the cryptocurrency sector.

The 29th. In March, Visa announced a pilot program that will allow all of its partners to use the Ethereum blockchain to process fiat currency transactions. The solution uses USDC Conjuncture to settle transactions.

Late last year, Paypal announced that it would begin offering cryptocurrency-related services to its users, including the ability to buy and trade them.

The 22nd. In March, US-based online app Buyaladdin announced that it now accepts BTC and ETH in many malls in South Korea.

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