According to a Dec. 20 press release published by BitPay, the Atlanta-based company has partnered with fiat-to-crypto onramps provider Simplex in order to provide feeless crypto purchases on its wallet app for customers within the U.S.
The tie-up negates the need for using a cryptocurrency exchange in order to fund one’s wallet.
BitPay Wallet users can purchase a slew of digital currencies with the help of Apple Pay as well as BitPay’s debit card.
Simplex CEO Nimrod Lehavi says that the partnership will lower the barrier to entry for people who are new to crypto by allowing them to dip their toes into the market without paying any fees:
Working with BitPay we are waving those fees for users so anyone, anywhere has the opportunity to enter into the crypto space. Together, Simplex and BitPay are making it possible for consumers to enter the crypto space.
The promotional partnership will last only for a limited period of time.
BitPay adds supports for Shiba Inu
BitPay’s suite of supported cryptocurrencies includes Shiba Inu (SHIB), Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH) as well as several stablecoins. The company integrated SHIB, the hottest meme coin, earlier this month due to overwhelming demand.
CEO Stephen Pair said that the Shiba Inu community was very “passionate,” adding that community involvement is key to driving blockchain adoption:
BitPay believes that more community involvement from coin holders supports awareness and adoption helping to move the blockchain industry to pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds.
Apart from allowing to buy and spend crypto, BitPay also supports gift cards.
The Simplex acquisition
As reported by U.Today, Simplex was acquired by Canadian payments firm Nuvei for $250 million earlier this year.
Last week, Nuvei announced that it would launch crypto-focused debit cards across the European Union and the U.K.