Nuvei Corporation, the Canadian fintech company, has announced a partnership with Mastercard to launch a new off-ramping solution that enables consumers in Europe to seamlessly convert their digital assets, including cryptocurrencies, into traditional fiat currency via debit, credit and prepaid cards.
This new functionality provides a bridge between digital and traditional finance that can be spent via Mastercard’s global network. This off-ramping solution is integrated directly into Nuvei’s modular payment platform, delivering a simple, secure user experience.
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The off-ramping process is designed to be rapid and user-friendly
Consumers can convert a wide range of supported Digital Assets into fiat currency. They can then transfer the funds to their eligible Mastercard in near real-time, depending on the receiving financial institution, leveraging Mastercard Move’s money movement capabilities. No longer requiring third-party exchanges or money service businesses, this integrated solution simplifies transforming digital value into global spending circulation.
Philip Fayer, Chair and CEO of Nuvei, said: “We’re excited to collaborate with Mastercard to accommodate access liquidity and payments for Digital Asset holders. Our mission is to enable businesses and their customers to connect through payments, wherever consumers are and however they want to pay. Offering crypto off-ramps through our single integration aligns perfectly with this mission to facilitate frictionless transactions across the digital economy.”
Christian Rau, Senior Vice President, Fintech and Crypto Enablement, Mastercard Europe, added: “Enabling choice how consumers can engage in Digital Assets in a safe, simple and secure manner in line with all relevant regulation is at the heart of our strategy in this space. Combining our global network of partners and digital solutions with Nuvei’s advanced integration opens new opportunities and choice for businesses engaging in digital assets and consumers alike.”
Nuvei’s off-ramp solution with Mastercard is the latest example of its strategy to connect the worlds of traditional payments, open banking and blockchain technology into one seamless experience.
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