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Israel’s Simplex launches banking solution to boost global crypto adoption

Israel’s Simplex launches banking solution to boost global crypto adoption

Company’s product provides crypto wallets, exchanges, and outlets the ability to offer popular local and global payment methods to their users

CTech | 16:51  07.12.2020
Simplex, which provides fiat infrastructure for the cryptocurrency ecosystem, has announced the launch of its latest product, Simplex Banking, a solution that enables crypto exchanges and wallets to simplify the buying and selling of crypto assets.

Simplex Banking provides crypto wallets, exchanges, and outlets the ability to offer popular local and global payment methods to their users. In addition to being the first crypto banking solution to natively integrate to exchanges and wallets’ apps, Simplex Banking also provides users one-click deposits that support large purchase amounts, thanks to Simplex’s banking license and the personal IBAN (International Bank Account Number) Simplex Banking generates for each user.
Simplex co-founders Erez Shapira (from right), Nimrod Lehavi and Netanel Kabala. Photo: Courtesy Simplex co-founders Erez Shapira (from right), Nimrod Lehavi and Netanel Kabala. Photo: Courtesy Simplex co-founders Erez Shapira (from right), Nimrod Lehavi and Netanel Kabala. Photo: Courtesy

Additionally, users enjoy a ‘one and done’ policy when it comes to document submission and user validation (KYC), ensuring a fast and efficient checkout process. In the recent soft launch of the product, millions of Euro were deposited to buy and sell crypto assets.

“Since 2014, Simplex has forged new methods of enabling mainstream adoption of crypto assets, through the seamless and safe purchase of cryptocurrencies with credit and debit cards," said Simplex CEO Nimrod Lehavi. "Simplex Banking is the natural expansion of our offering, fiting the growing needs of the market, namely to easily buy and sell crypto assets, safely, with no maximum limits and a range of payment options.”
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