Crypto.com Partners With Industry-Leading Blockchain Validator and Merchant Acquirer Worldpay From FIS to Support Global Expansion

Rhea-AI Summary

Worldpay from FIS has partnered with Crypto.com, enhancing their blockchain efforts as a validator for the Crypto.org Chain. The collaboration aims to support Crypto.com’s global expansion by leveraging Worldpay's payment gateway and merchant acquiring services. Worldpay, an established Card-to-Crypto processor, will facilitate card-based transactions for cryptocurrencies, enriching its existing services which cater to four of the top five exchanges. With over 10 million users, Crypto.com aims to broaden cryptocurrency accessibility, reflecting the market's rapid growth.

Positive

• Partnership with Crypto.com expected to enhance global expansion.
• Worldpay's experience supports transaction processing for cryptocurrencies.
• Worldpay serves four out of the top five cryptocurrency exchanges, indicating strong industry credibility.

Negative

• None.

Key facts

• Rapidly growing crypto platform engages Worldpay from FIS as a blockchain validator and will utilize the company’s payment gateway and global acquiring services to support continued global expansion.
• Worldpay will process card-based purchases and sales of cryptocurrencies for Crypto.com.
• Worldpay is an experienced Card-to-Crypto processor, which provides services for 4 of the top 5 cryptocurrency exchanges.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Financial technology leader Worldpay from FIS^® (NYSE: FIS) has partnered with Crypto.com, the world’s fastest growing cryptocurrency platform, to be a global validator and operator for the Crypto.org Chain. The Crypto.org Chain is a public blockchain which enables transactions worldwide between people and businesses. As part of the partnership, Worldpay will also provide global merchant acquiring services to support Crypto.com’s continued growth and global expansion.

Crypto.com is a global crypto platform which serves over 10 million customers. Through the Crypto.com App, the Crypto.com Visa Card and the Crypto.com Exchange, consumers can purchase and spend in over 250 cryptocurrencies.

With the market for cryptocurrencies growing rapidly, Crypto.com wanted to partner with a proven validator for the Crypto.org Chain and a payments provider with extensive experience working with crypto exchanges, to support its continued growth. Crypto.com will leverage Worldpay from FIS merchant services to process card-based purchases and sales of cryptocurrencies.

“Worldpay has provided innovative solutions and services to the crypto industry for the past eight years and we’re delighted to have been selected by Crypto.com to help them take cryptocurrencies to a wider global market,” said Nabil Manji, Head of Crypto and Emerging Business, Worldpay from FIS. “Interest in cryptocurrencies has never been greater, and it is now more important than ever to make these new technologies more accessible to more people."

“By becoming a validator of our Crypto.org Chain and providing its best-in-class global merchant acquiring services, Worldpay will greatly contribute to our vision of making cryptocurrency accessible to everyone,” said Kris Marszalek, co-founder and CEO of Crypto.com. “We look forward to collaborating with Worldpay to advance the growth of cryptocurrency and digital assets.”

FIS processes over $2 trillion in transactions annually across over 100 countries in numerous payments types and currencies. The company is an experienced Card-to-Crypto processor, which provides services for 4 of the top 5 cryptocurrency exchanges, and has recently announced a number of cryptocurrency-focused initiatives in its mission to advance the way the world pays, banks and invests.

About FIS

FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS ranks #241 on the 2021 Fortune 500 and is a member of Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220208005189/en/

Kim Snider, 904.438.6278

Senior Vice President

FIS Global Marketing and Communications

kim.snider@fisglobal.com

Source: Fidelity National Information Services

FAQ

What is the partnership between FIS and Crypto.com?

FIS's Worldpay has partnered with Crypto.com to become a validator for the Crypto.org Chain and provide payment processing services.

How will the partnership impact FIS stock?

The partnership may enhance FIS's market position in the growing cryptocurrency sector, potentially impacting stock performance positively.

When was the partnership between FIS and Crypto.com announced?

The partnership announcement was made in a press release dated February 8, 2022.

What services will Worldpay provide to Crypto.com?

Worldpay will process card-based purchases and sales of cryptocurrencies and offer global merchant acquiring services.

What are the expected benefits of the partnership for Crypto.com?

The partnership aims to expand Crypto.com's reach and improve accessibility to cryptocurrencies for its users.