Payment company Nuvei launches support for 40 cryptocurrencies, including Reddcoin and DOGE

Ecommerce merchants can now transact nearly 40 cryptocurrencies through the Nuvei global payment platform.

According to the announcement, merchants working with the payment provider will be able to use a range of cryptocurrencies to send and receive payments in 200 countries, including the leading assets Bitcoin (BTC) and Ether (ETH), lesser-known cryptocurrencies like Reddcoin and Bitcoin Gold, and even hypervolatile coins like Dogecoin (DOGE).

Nuvei customers can even use Ripple (XRP), despite the asset’s recent legal troubles and the subsequent crashes of major exchanges.

In his launch commentary, Nuvei CEO and President Philip Fayer described the company’s support for crypto assets as “empowering.”[ing] our customers, big or small, with an easy payment experience and better ways to enter the global marketplace. “

The announcement also stated that crypto-asset transactions offer Nuvei users “more security, privacy and integrity” compared to traditional fiat payment methods. However, many crypto assets supported by Nuvei have previously been the subject of 51% attacks.

In the final quarter of 2020, Nuvei processed nearly $ 14 billion from merchants, with the company processing $ 43 billion throughout 2020.

Nuvei’s announcement comes as competition intensifies between traditional payment providers operating in the crypto space.

On March 29, Visa announced a pilot program that will allow all of its partners to use the Ethereum blockchain to process transactions made with Fiat. The solution uses stablecoin USDC to delete transactions.

Late last year, PayPal announced that it would offer its users cryptocurrency services, including the ability to buy and trade them.

On March 22nd, the US online shopping app Buyaladdin announced that it would accept BTC and ETH in several shopping malls in South Korea.