FIS Selected to Manage, Process CEX.IO’s New Cryptocurrency Debit Cards
With crypto-based consumer cards becoming more readily available, the U.K.-based CEX.IO is adapting and evolving for the future. The leading global cryptocurrency-exchange company tapped the Florida-based FIS, a financial-technology leader in its own field, as the platform to support a new line of crypto-based consumer cards across Europe.
“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.”
When choosing a platform, CEX.IO was searching for a proven company and will have FIS’s debit and prepaid platform handle management and processing, purchase authorization, risk management, and regulatory compliance—all aspects of the cryptocurrency debit cards.
“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, a Fortune 500 company, processes billions of transactions annually and provides technology solutions for its clients, which include merchants and banks.