Dash Partners with Fiat Infrastructure Leader Simplex to Offer Its Users a Fiat On-Ramp

Place/Date: Tel Aviv, Israel - February 20th, 2020 at 2:47 pm UTC · 3 min read
Contact: Dan Edelstein, Source: Simplex

Photo: Simplex

Digital currency and blockchain governance network Dash has joined forces with fiat infrastructure provider Simplex, enabling DASH to be purchased with credit card. As part of the agreement, DASH will be offered by Simplex for purchase with credit cards through its partners.

Simplex, an EU-licensed financial institution leading the fiat infrastructure for crypto and headquartered in Israel, has 128 active partners and supports 10 different cryptocurrencies. Founded in 2014, the company is known for its proprietary fraud detection algorithms which eliminate the risk of fraudulent card payments.

Dash is a leading cryptocurrency in payments with a market cap of over $1 billion. The peer-to-peer payment network is operated and backed by a large online community of developers and adopters, many of whom run the open-source Dash software.

Simplex has previously entered into similar partnerships with companies such as Tron Foundation and Cosmos Network, subsequently adding TRX and ATOM to their supported cryptocurrencies. Simplex has built a broad, global, and secure fiat infrastructure for crypto and is now working with some of the largest exchanges such as Binance, KuCoin, and OKEx, integrating with the platforms to let users expand their portfolio by buying crypto with credit card.

In a statement, Simplex CEO Nimrod Lehavi reiterated his belief that credit card functionality is vital to accelerate broad cryptocurrency adoption:

“We are pleased to add DASH to our portfolio and allow our network of a hundred of leading exchanges and wallet partners to offer credit card purchasing of DASH, using a multitude of currencies Simplex now supports”.

Ryan Taylor, CEO of Dash Core Group, said:

“Partnering with Simplex, a leading credit card payment processing company, is an incredibly exciting opportunity for Dash. Thanks to their advanced fraud detection capabilities, Simplex’s clients include some of the largest platforms in the industry.”

“Through this integration, we’re excited to expand access to Dash and to give our users more choices. Simplex not only means a simplified purchase experience for our users, but it means Dash can be offered on more partner websites than ever before.”

This is not the only new partnership that Dash has signed; the organization recently concluded an agreement with crypto remittance firm Tauros which will see DASH added to over 11,000 ATMs throughout Mexico.

Quote from Dash Core Group

Dash is digital cash designed to offer financial freedom to everyone. Dash allows millions of individuals across the globe to carry out instantly re-spendable and secure transactions, with near-zero fees. Built to support real-life use cases, Dash is the leading decentralized payment solution: it is accepted at over 4,900 merchants globally, accessible via 700+ ATMs and 90+ exchanges worldwide. Dash has pioneered groundbreaking features including:two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend), instantly immutable blockchain (ChainLocks) and more. The Dash Network’s development is supported by Dash Core Group, the largest organization funded by the Dash Treasury, which supports and nurtures the continued worldwide development and integration of Dash. For more information, visit official website or follow the organization on Twitter.

About Simplex

Simplex is an EU-licensed financial institution, providing the fiat infrastructure for the crypto industry. Simplex processes crypto-to-credit card payments with a 100% guarantee – in case of a fraud chargeback, the merchant gets paid by Simplex. Simplex’s cutting-edge fraud prevention solution and proprietary state-of-the-art AI technology blocks fraudulent users and allows legitimate users to complete payments with ease, increasing conversion rates and enabling merchants to focus on their business growth. To learn more about Simplex go to official website.