IOHK (Input Output Hong Kong) has teamed up with Israel-headquartered payment processing gateway Simplex to integrate Cardano (ADA). ADA joins the list of other digital currencies supported by Simplex in a bid to meet the rising interest and popularity of ADA.
Cardano Becomes Latest Crypto To Use Simplexs Fiat On/Off Ramps
Simplex, which is a Visa principal member, has incorporated Cardano. This means that convenient on-ramps and off-ramps are available for cardano users around the world. According to the announcement on Wednesday, ADA will be available for purchase across all Simplex partners, including cryptocurrency exchanges, wallets, custodial platforms, and brokers.
Suffice to say, fiat-to-crypto on-ramps are very important for the success of any cryptocurrency. At this particular time when digital currencies are gaining traction across the globe, its vital for users, especially newbies, to be able to purchase their favorite cryptocurrency seamlessly and reliably.
Thanks to this new tie-up, millions of crypto users can purchase ADA tokens with debit or credit cards, SWIFT transfers, SEPA, or Apple Pay. The financial institution cites Cardanos growing prominence and developer activity as some key motives behind the addition:
“The renewed interest in Cardano is the product of a loyal social media following, a thriving community, and landmark achievements. As its popularity and appeal keep rising, both investors and developers will continue to explore new boundaries.”
Cardano has been gaining momentum in recent weeks following a series of significant network upgrades and huge announcements that brought more attention to the Charles Hoskinson-led platform.
Simplex has inked partnerships with over 360 cryptocurrency-focused firms since its launch and it offers services to exchanges like OKCoin and Binance. At the time of publication, the EU-licensed firm has integrated over 50 cryptocurrencies and hundreds of fiat currencies to ensure an excellent and secure user experience for all traders and investors.
ADAUSD Chart By TradingView
ADA is currently valued at $1.32. The recent (and forthcoming) upgrades and fiat onramps position the cryptocurrency for further upside as the present crypto market bull rally continues to unravel.