Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million

The publicly-listed Canadian firm Nuvei Corporation announced the acquisition of the cryptocurrency company SimplexCC Ltd in an all-cash deal for $250 million. The deal is pending regulatory approval and Nuvei expects Simplex to “enhance” the firm’s portfolio of alternative payment method solutions.
Nuvei Acquires Crypto Payments Provider Simplex
On May 6, the Canadian company Nuvei (TSX: NVEI), a global payment technology firm, revealed the acquisition of the crypto asset payment operation Simplex. The digital currency startup offers fiat to the crypto on and off-ramps alongside the ability to provide Visa cards to crypto consumers. The company notes that it “processed approximately $500 million of total volume” last year and estimates it will process $2 billion this year.

Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million