Simplex by Nuvei, a payment service provider, has collaborated with a Danish blockchain-dependent payment service provider, e-Money, to provide a fiat on-ramp for EEUR, an asset-backed interest-bearing stablecoin delivered by e-Money. This would allow the e-Money customers and other crypto users to buy e-Money EEUR stablecoin using their debit and credit cards.
Using a uniform and stable blockchain layer, the blockchain-based payment platform e-Money seeks to replace the current financial system. The e-Money protocol, which is based on Cosmos technology, is designed to produce a variety of interest-bearing, stablecoin-backed currencies.
Martin Dyring-Andersen, Founder & CEO, e-Money, stated, “Our integration of Simplex by Nuvei solution provides for a simple and streamlined way to use credit or debit cards to buy our fully collateralised interest-bearing EEUR stablecoin and allows for users to gain access to all the assets on Cosmos, Avalanche, Ethereum and other integrated blockchain networks. In times where markets are increasingly volatile and leveraged, we believe users will benefit from our fully fiat-backed and audited stablecoins.”
Simples is a leading vendor of reliable fiat-to-crypto platforms, allowing customers to make transactions using their credit and debit cards in cryptocurrency. Simplex has been offering more than 350 fiat on-ramps on trending exchange platforms like BitPay, Binance, and Huobi.
e-Money stablecoins are completely asset-backed with government bonds and bank deposits at other banks. e-Money’s currency-backed stablecoins leverage an interest-bearing peg that traces the interest rate on the fiat money transferred to stablecoin users while deposited in the user’s wallet.
Ari Last, VP of Business Development at Simplex by Nuvei, commented, “We are excited to support e-Money with our seamless and secure onramp solution, helping millions of users gain easy access to EEUR stablecoin with everyday payment methods.”
The Cosmos Network, upon which the e-Money platform is based, is perfect for the e-Money payment system since it is scalable, offers instant settlement, and can be set up to create blocks right away. The e-Money sovereign zone on Cosmos is made simple to use, quick, and with extremely little, insignificant fees.