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Investing.com — Payment technology company Nuvei Corp (NASDAQ:NVEI) rose Wednesday on news it has partnered with Ledger, a company that develops security and infrastructure solutions for cryptocurrencies.
Nuvei told investors in its press release that the partnership will “enable direct on-ramps” for over 125 cryptocurrencies with all of the leading fiat funding options via its Simplex by Nuvei solution.
Through the Ledger Live platform, Ledger users will be able to purchase cryptocurrencies through Visa (NYSE:V), Mastercard (NYSE:MA), SEPA, SWIFT, and other funding options for various currencies. Essentially, it provides a payment solution for Ledger users without going through external exchanges and fiat-to-cryptocurrency payment gateways.
“We’re excited to partner with Ledger to let more and more users easily acquire crypto with maximum security,” said Philip Fayer, Chair and CEO of Nuvei. “With the number of possible verified uses of crypto in the ecosystem ever-increasing, having easy on-ramps within the wallet is key for the continued growth of the sector.”
Nuvei climbed over 6% Wednesday following the news. Last week the stock was initiated with an Overweight rating by JPMorgan, who said the pandemic “ushered in a wave of complexity” for merchants to accept different digital payments modalities. They added that Nuvei solves this problem by providing various payment services through a single integration.
