NEM has confirmed a new partnership with Simplex, the specialist fiat infrastructure provider, to make XEM, NEM’s native token.
As part of the expansion, the token will be purchasable by credit and debit card across Simplex’s global network of partners, including exchanges, brokers, and wallets.
Commenting on the news, Nicholas Pelecanos, Head of Trading at NEM: “We’re excited to make XEM more globally accessible through Simplex’s vast network of partners and exchanges. Simplex’s user experience is unparalleled, and we’re thrilled to work with this industry behemoth to extend NEM’s global reach. This will enable anyone, anywhere, to have a foray into NEM and the digital assets space, democratizing access and propelling the industry forward to the next phase of adoption.”
Simplex’s fiat credit and debit purchase options seek to offer a simplified process for individuals entering the cryptocurrency space. This partnership will provide an easy global on-ramp to XEM, enabling access to Simplex’s extensive network of exchanges globally. By providing users with greater flexibility in purchasing, Simplex will broaden the reach of XEM.
The payment processor uses artificial intelligence (AI) technology to analyze every transaction using proprietary, fully automated, machine-learning algorithms that eliminate fraud, while increasing conversion.
“Simplex gives anyone, anywhere, the ability to buy crypto securely and easily”, said Nimrod Lehavi, Simplex CEO and founder. “We’re excited to partner with NEM Group to give millions of people access to XEM, through our network of trusted partners.”
XEM is the native currency of NIS1, NEM’s original blockchain platform. NEM recently announced the opt-in process to Symbol, in which users will be eligible to receive equivalent XEM=XYM tokens on Symbol, the next-generation enterprise-grade blockchain solution from NEM, purpose-built to help businesses cut costs, reduce complexities, and streamline innovation. To accommodate existing NIS1 users, the two chains will continue to run side-by-side.
