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Nuvei Rises 6% On Ledger Partnership -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — On Wednesday, Nuvei Corp (NASDAQ) rose on the news that it had partnered with Ledger to develop security and infrastructure solutions in cryptocurrencies.

In a press release, Nuvei stated to investors that it will allow “direct on-ramps for more than 125 cryptocurrency with all the top fiat funding options via Simplex by Nuvei.” 

LedgerLive platform allows users to buy cryptocurrencies via Visa (NYSE;), Mastercard(NYSE:), SEPA and SWIFT as well as other financing options. Essentially, it provides a payment solution for Ledger users without going through external exchanges and fiat-to-cryptocurrency payment gateways. 

“We’re excited to partner with Ledger to let more and more users easily acquire crypto with maximum security,” said Philip Fayer, Chair and CEO of Nuvei. “With the number of possible verified uses of crypto in the ecosystem ever-increasing, having easy on-ramps within the wallet is key for the continued growth of the sector.”

Following the announcement, Nuvei rose more than 6% on Wednesday. JPMorgan initiated the stock with an Overweight rating. JPMorgan stated that the pandemic caused “a wave of complexity” in the ability for digital payment processors to accept various modes of payments. Nuvei, which provides multiple payment services via a single integration, solves the problem.

 

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