Nuvei and Mastercard team to enable crypto to fiat conversion

By Gloria Methri

Canadian FinTech Nuvei has partnered with Mastercard to launch a new off-ramping solution that enables consumers in Europe to seamlessly convert their digital assets into traditional fiat currency via debit, credit and prepaid cards.

This new functionality provides a bridge between digital and traditional finance that can be spent via Mastercard’s global network. The off-ramping solution is integrated directly into Nuvei’s modular payment platform, delivering a simple, secure user experience.

Consumers can seamlessly convert a wide range of supported digital assets into fiat currency. Then, through Mastercard Move’s money movement capabilities, they can transfer the funds to their eligible Mastercard in near real-time.

“We are excited to collaborate with Mastercard to accommodate access liquidity and payments for Digital Asset holders,” said Philip Fayer, Chair and CEO of Nuvei. “Our mission is to enable businesses and their customers to connect through payments, wherever consumers are and however they want to pay. Offering crypto off-ramps through our single integration aligns perfectly with this mission to facilitate frictionless transactions across the digital economy.”

“Enabling choice how consumers can engage in Digital Assets in a safe, simple and secure manner in line with all relevant regulation is at the heart of our strategy in this space” added Christian Rau, Senior Vice President, Fintech and Crypto Enablement, Mastercard Europe. “Combining our global network of partners and digital solutions with Nuvei’s advanced integration opens new opportunities and choices for businesses engaging in digital assets and consumers alike.”

Nuvei’s off-ramp solution with Mastercard is the latest example of its strategy to connect the worlds of traditional payments, open banking and blockchain technology into one seamless experience.