Cryptocurrency Exchange CEX.IO Selects FIS to Support Launch of Consumer Debit Cards
- 19.05.2021 10:50 am
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 processes billions of transactions annually across 146 countries and more than 300 payment types in 126 currencies.