Israel-based Simplex, one of the largest providers of digital payment processing for cards and wallets, has added Bitcoin SV support to its platform. Simplex provides merchants all around the world to accept payments for buying digital assets through multiple payment methods. The company currently has more than 150 partners ranging from gateways, wallets to exchanges. The company aims to expand its customer base by offering Bitcoin SV to its platform. Some of its popular partners that already support Bitcoin SV include Bithumb, BitMax, Bitmart, Cross Exchange, MXC, Poloniex, KuCoin, OKEx, BiKi, and many more. With the addition of Bitcoin SV, more number of Simplex’s partners will be able to allow their customers to purchase BSV on their own platform using their debit or credit cards.
Bitcoin SV was carved out of Bitcoin Cash (BCH) and is currently on the 6th position according to the market capitalization. Even though there have been claims that the volume of Bitcoin SV is overrated, Bitcoin has been able to maintain its position in the top 10 coins. There have also been controversies surrounding its inventor, but Bitcoin SV sees a daily turnover of about $1 billion, making it highly attractive for buyers. The growing ecosystem and services are pushing the demand for Bitcoin SV. Since it is a fast and effective payment system, it offers a variety of data usage that benefits customers in different ways.
Simplex’s offering of payment processing is combined with the best fraud prevention technology in the market. It allows its partners to accept a wide variety of payment methods without any chargeback risk. The company provide a refund on fraudulent transactions and allow legitimate users to make transactions securely and easily. It has also brought in mobile wallet provider Broxus that allows the purchase of Bitcoin and Ether via Telegram. Even though the details of Bitcoin SV have not been disclosed, generally, Simplex charges 3.5 percent of the amount of transaction and has a $10 minimum purchase amount. There is a maximum daily limit of $20,000 if one is using any debit or credit card and also a $50,000 monthly upper limit to minimize misuse and fraud.
At the announcement of Bitcoin SV, the founding president of Bitcoin Association, Jimmy Nguyen, said that Simplex addition of Bitcoin SV is another milestone for the global adaption of BSV. He added that through Simplex and its partners, it would become easier for people to purchase BSV from anywhere in the world by using a debit or credit card. In addition, since Simplex is a licensed institution in the EU, it brings about a regulatory-compliant approach that Bitcoin Association looks to build and expand its business lawfully around the world.
The Vice President of Business Development at Simplex, Ari Last, also said that they were thrilled to team up with Bitcoin Association to provide a quick and secure way to buy BSV across all its partners. In addition to providing crypto-friendly banking services, Simplex will now be able to ensure unmatched flexibility to its customers too.