FTX deploys Nuvei’s instant payments for faster access to cryptos
“We want our users to have a frictionless experience and be able to convert from fiat to crypto and back seamlessly.”
FTX has partnered with payment technology company Nuvei in order to provide its cryptocurrency exchange clients instant payment solutions.
By deploying Nuvei’s solution, FTX aims to significantly improve the user journey, enabling instant deposits that support high-value transactions in order to get clients buying cryptocurrencies faster.
Fiat to crypto instantly
Philip Fayer, Chair and Chief Executive Officer at Nuvei, said: “Our partnership with FTX demonstrates Nuvei’s leadership in the growing cryptocurrency vertical and shows our ability to provide innovative solutions for customers of all types around the world.
“FTX is one of the world’s largest digital currency exchanges, and we are thrilled to partner with them to help simplify the transaction experience for their customers and speed processing times. Together, we will provide instant payment deposits, supporting the higher value transactions that are often required in cryptocurrency trading. We look forward to continuing our collaboration with FTX and to expand the partnership to provide more APMs and enable payouts, bringing the latest innovations to their payment capabilities.”
Sam Bankman-Fried, founder and CEO of FTX, said: “We want our users to have a frictionless experience and be able to convert from fiat to crypto and back seamlessly. We are thrilled to partner with an innovative company like Nuvei to provide a reliable payment on and off-ramp for our users.”
2021: FTX partnered with Ledger and acquired LedgerX
The digital asset exchange has recently partnered with Ledger, a popular hardware wallet and gateway to Web3. Ledger’s self-custody application will have access to FTX’s liquidity, leverage, and trading options, thus enabling users in 150 countries to trade across 300 digital.
The partnership solves one of the ongoing dilemmas for crypto investors: where your assets are accessible and where they are safest. Hardware wallets are usually considered the most secure option, but they make transactions an unwelcomed extra step.
Deposit to and withdrawal from the FTX platform has become easy and speedy for the benefit of Ledger Live users, who will gain access to over 300 trading pairs, including BTC-ETH, BTC-SOL, while using the hardware wallet.
Also this year, FTX reduced the maximum leverage allowed on the platform and reported that average daily volume grew by over 150 times when compared to the same time last year with the peak of $993 million coming in a 24 hour period on April 22, 2021.
The exchange operator also acquired LedgerX, a CFTC-regulated exchange and clearinghouse, that operates as a Designated Contract Market (DCM), Swap Execution Facility (SEF), and Derivatives Clearing Organization (DCO) that caters to both retail and institutional investors.
