Advertisement
AD

Main navigation

Fiat-to-Crypto Onramps Provider Simplex to Be Acquired for $250 Million

Advertisement
Thu, 6/05/2021 - 12:08
Fiat-to-Crypto Onramps Provider Simplex to Be Acquired for $250 Million
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Canadian financial services company Nuvei is in advanced talks to acquire Israeli crypto-to-fiat onramp provider Simplex for up to $250 million, local technology news site CTech reports. The deal is expected to be inked in the upcoming days.

Advertisement

Founded back in 2014, Simplex has grown into a 150-strong company with employees operating from offices in Israel and Lithuania.

Related
Cardano (ADA) Integrates Leading Payment Processor Simplex to Ease ADA Purchasing

Simplex is mostly known for enabling credit card payments on major exchanges such as Binance.

The shares of Nuvei—whose market cap is estimated to be roughly $10 billion—are trading on the Toronto Stock Exchange. Its annual turnover exceeds $16 billion.

The Simplex acquisition is the latest example of cryptocurrency M&A deals picking up steam. Yesterday, Galaxy Digital announced it had bought crypto custodian BitGo for a whopping $1.2 billion.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles