The U.S. is one of the toughest places in terms of regulations for cryptocurrency exchanges to operate in. As a result, many businesses have been unable to serve customers in the United States due to compliance issues. To make things easier, leading payment processor Simplex has announced its expansion in the U.S. to cover a wider area.
Simplex’s fiat on-ramp platform allows merchants, marketplaces, and platforms to deal with payments in cryptocurrency in a compliant and safe way. Simplex gives the total fiat foundation to the digital money biological system.
As an authorized EU money-related establishment, Simplex has grown to be one of the popular names in this market and has been working in collaboration with industry leaders like Binance, Huobi, KuCoin, Bitpay, among several others.
U.S. Expansion
According to a press release shared with The Daily Chain, the payments giant will now be serving users is Nevada (NV), Washington (WA), New Mexico (NM), Vermont (VT), Alaska (AK), and Louisiana (LA). This is in addition to other areas that Simplex serves.
With Simplex’s platform, its partners that include several cryptocurrency exchanges, broker websites, and wallet applications, will now be able to serve 15 million crypto users in the United States, as they will now be able to purchase cryptocurrency using a credit or debit card.
“More users can now enjoy a simple, compliant, and secure onboarding to the crypto ecosystem,” the release said.
As of now, the supported crypto assets in these areas are Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT).
Nimrod Lehavi, CEO and founder of Simplex, said in a statement:
“Simplex is committed to give anyone, anywhere the ability to easily purchase any crypto assets. We’re continuing to roll-out additional features and solutions to do our part in growing the ecosystem.”
More collaborations for Simplex
As previously reported by The Daily Chain, Simplex partnered with the Worldwide Asset Exchange (WAX) last month to allow the purchase of WAXP tokens on leading global trading platforms.
The collaboration also saw Simplex getting integrated into the WAX Cloud wallet, making it easier to purchase WAXP Tokens using a credit or debit card, which in turn allows the purchasing WAX NFTs.
Earlier this year, it partnered with crypto exchange CoinEX, to make it easier for the exchanges customer to purchase digital currencies using fiat.
