Cryptocurrency exchange CEX.IO Selects FIS to Support Launch of Consumer Debit Cards
CEX.IO has partnered with FIS to launch a new line of crypto-based consumer debit cards across Europe. FIS will provide card management and processing services using its Debit & Prepaid Platform. This collaboration aims to enhance payment options for cryptocurrency users, simplifying access to crypto transactions. FIS's expertise will support CEX.IO in regulatory compliance, risk management, and other critical card functions. With billions of transactions processed annually, FIS continues to play a pivotal role in the growing crypto payment landscape.
- Partnership with CEX.IO to launch crypto-based debit cards enhances FIS's market presence.
- FIS's Debit & Prepaid Platform will streamline card management and processing for CEX.IO.
- The initiative supports growing consumer demand for crypto payment solutions.
- None.
CEX.IO, a leading global cryptocurrency exchange, has selected financial technology leader FIS® (NYSE: FIS) to provide card management and processing services for a new line of crypto-based consumer cards across Europe.
CEX.IO was looking for a proven technology platform to support its planned launch of debit cards for its cryptocurrency customers. The new line of consumer cards will tie traditional debit capabilities to modern cryptocurrency accounts, expanding our existing payment gateway and global acquiring relationship.
The fast-growing exchange chose the FIS Debit & Prepaid Platform, which will handle all aspects of card management and processing for the new card line, including purchase authorization, risk management, and regulatory compliance.
“As cryptocurrencies continue to gain mainstream adoption, consumers are increasingly seeking simple, convenient payment methods for making crypto-based purchases using cards and other familiar financial products,” said Kelly Beatty, Head of Payment Solutions at FIS. “We’re delighted to expand our relationship with CEX.IO to help them provide exciting new card options to their customers and support their continued growth.”
“FIS and Worldpay have proved to be a trusted and reliable technology partner and we are thrilled to have expanded our relationship with them,” said Konstantin Anissimov, Executive Director at CEX.IO. “Their expertise and industry know-how will help us simplify our business operations and help us seamlessly introduce virtual and physical cards to our customers.”
FIS, a pioneer in card to crypto technology, processes billions of transactions annually across 146 countries and more than 300 payment types in 126 currencies.
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 is a Fortune 500® company 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/20210519005047/en/
FAQ
What partnership has CEX.IO announced with FIS?
How will FIS support CEX.IO's new debit card services?
What technology does FIS use for the debit cards?
How significant is FIS in the cryptocurrency market?
When was the partnership between CEX.IO and FIS announced?
