Simplex Redefines the Fiat-to-Crypto/Crypto-to-Fiat Experience With the Launch of the Simplex Banking Solution

Simplex Banking works alongside Simplex’s unparalleled partner network to overcome key barriers to greater crypto adoption by providing a global solution of crypto- friendly banking, offering local payment methods for a truly global reach.

Simplex, the global market leader of the fiat-crypto infrastructure, announced the launch of a long anticipated addition to its product suite: Simplex Banking, a revolutionary method that enables crypto exchanges and wallets to offer anyone, anywhere to buy and sell crypto assets.

Simplex Banking offers hundreds of crypto wallets, exchanges, and outlets the ability to offer popular local and global payment methods to their users, a critical move in democratizing crypto for the masses. This ensures that individuals hailing from areas in which most global payment methods are not widely used, such as Europe, Asia, and beyond, can purchase digital assets, simply and securely.

Beyond being the first crypto banking solution to natively integrate to exchanges and wallets’ apps, Simplex Banking offers a mainstream, user-friendly approach to the onramp and offramp experience. Simplex partners can offer their users one-click deposits that support exceptionally large purchase amounts, thanks to Simplex’s banking license and the personal IBAN (International Bank Account Number) Simplex Banking generates for each user.

Additionally, users enjoy a ‘one and done’ policy when it comes to document submission and user validation (KYC), ensuring a fast and efficient checkout process. This also ensures that crypto buyers worldwide can easily and quickly capitalize on market prices, before the tide turns. In the soft launch of the product alone, millions of Euro has been deposited to buy and sell crypto assets.

The ability to convert crypto into fiat in a bank account, affordably and instantaneously, 24/7 makes Simplex Banking an exceptional tool to unlock the potential of crypto assets for corporates, traders, users, and HODLers alike. Simplex Banking will continue to support an increasing amount of payment methods and local currencies, and recurring ‘smart’ auto-purchases, in addition to a give-back initiative, which will help users donate easily to the charity of their choice.

Announcing the new product, Simplex CEO Nimrod Lehavi said: “Since 2014, Simplex has forged new methods of enabling mainstream adoption of crypto assets, through the seamless and safe purchase of cryptocurrencies with credit and debit cards. Simplex Banking is the natural expansion of our offering, fiting the growing needs of the market, namely to easily buy and sell crypto assets, safely, with no maximum limits and a range of payment options.”

Users can apply Simplex Banking through Simplex’s extensive partner network. Simplex partners that currently offer Simplex Banking include OkEx, Huobi, Jaxx, Poloniex, Changelly, CoinFlip, to name a few . Registration takes a mere minute and users benefit from zero onboarding fees, zero monthly management fees, and no fees for debit card issuing.

About Simplex

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 all, turning the complex into the Simplex. Keep up with the latest Simplex news by following us on Twitter or visiting www.simplex.com.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store