Edge Non-Custodial Cryptocurrency Wallet and Exchange Partners with Simplex Payment Processor
Edge cryptocurrency wallet, formerly Airbitz, announced its partnership with Simplex payment processor to provide a direct channel to sell cryptocurrency to your Visa or MasterCard credit card. The beta of the “cash out” functionality is released only on iOS only at the moment with the Android version still in development.
As cryptocurrency adoption rate gains pace, the companies behind the projects are working tirelessly to provide efficient, functional and user-friendly platforms for their users. The partnership between Edge, a cryptocurrency wallet and exchange, and Simplex, a digital asset payment processor, is a testament to the ongoing developments. The partnership is set to introduce cryptocurrency cash out functionality to your credit cards and debit cards.
The announcement on Wednesday, 10th April 2019, confirmed that Edge will now support direct selling of cryptocurrency to your VISA/ MasterCard through the Simplex engine. The users of Edge wallet and exchange will now be able to directly cash out their cryptocurrencies to their credit cards. The California based company released the beta version of the liquidation function to all users except those in the United States due to regulatory concerns.
Speaking on the latest partnership with Simplex, the CEO of Edge, Paul Puey, praised the payment processor as a leader in providing cryptocurrency payments processing. The company was founded in 2014 and has since provided a direct payment processing to cryptocurrency users and their credit cards. Furthermore, Puey is optimistic of the partnership as it provides an opportunity for the company to move towards its goal to provide cryptocurrency users with a transactional currency. He said,
“Now users have the freedom to effectively spend crypto directly from their credit card of choice. Since our founding in 2014, making crypto usable as a transactional currency has been one of our top priorities and this new functionality brings us a major step closer to that dream.”
The world of cryptocurrency is accustomed to buying special cryptocurrency debit cards that are then topped up with the compatible digital asset by the user. The Visa/ MasterCard debit cards are then used to shop and purchase from any of the global retail merchants point of sale.
Edge, a crypto non-custodial wallet and exchange platform, has partnered with payment processing company Simplex and has announced the beta release of its “crypto cash out” functionality. The official statement further explained that the cash out functionality will offer the same benefits special cryptocurrency debit card users have such as buying at any global Visa and MasterCard point of sale. However, the users will not need a new card but their existing Visa and MasterCard credit cards will work fine allowing users to collect their reward points.
The CEO of Simplex, Nimrod Lehavi, was ecstatic in his address on the partnership with Edge saying,
“We’re thrilled to expand our long-standing partnership with Edge and start enabling users to cash out of crypto and not only to buy into crypto. One of the main concerns of mainstream new users is cashing out after they have bought in, and we’re excited to start enabling it.”
He further stated that the partnership will promote the growth of cryptocurrency adoption across the globe.