Nuvei, a payment provider, has added support for nearly 40 crypto assets, including lesser-known coins from previous market cycles like Reddcoin, Steem, Bitcoin Gold, and Siacoin.
Through the global payment platform Nuvei, e-commerce merchants can now transact in nearly 40 cryptocurrencies.
According to the announcement, merchants who have partnered with the payment provider can use a variety of cryptocurrencies to send and receive payments across 200 countries, including top assets Bitcoin (BTC) and Ether (ETH), lesser-known cryptos like Reddcoin and Bitcoin Gold, and even volatile coins like Dogecoin (DOGE).
Customers of Nuvei can even use Ripple (XRP), despite the asset’s recent legal troubles and subsequent delistings from major exchanges.
Nuvei’s CEO and chairman, Philip Fayer, commented on the launch, saying that the company’s support for crypto assets is “empower[ing] our clients, large and small, with frictionless payment experiences and a greater opportunity to partake in a global marketplace.”
The announcement also claims that crypto asset transactions will provide Nuvei users with “enhanced security, privacy, and integrity” when compared to traditional fiat payment methods. However, multiple Nuvei-supported crypto assets have previously been the target of 51 percent attacks.
Nuvei processed nearly $14 billion from merchants in the fourth quarter of 2020, with the company handling $43 billion in total for the year.
The announcement by Nuvei comes as competition among traditional payment providers entering the crypto sector heats up.
On March 29, Visa announced a pilot program that will allow all of its partners to use the Ethereum blockchain to settle fiat transactions. To clear transactions, the solution makes use of the USDC stablecoin.
Paypal announced late last year that it will begin offering cryptocurrency services to its users, including the ability to purchase and trade them.
On March 22, Buyaladdin, a U.S.-based online shopping app, announced that it will begin accepting BTC and ETH across multiple South Korean shopping malls.