CEX.IO Crypto Exchange Launches Crypto-Based Debit Cards

The UK-based CEX.IO cryptocurrency exchange is set to launch crypto debit cards for its customers across the UK and Europe in partnership with Fortune 500 company Fidelity National Information Services Inc.

CEX.IO Launches Crypto-Based Debit Cards

Fintech company Fidelity National Information Services Inc (FIS) is joining hands with CEX.IO to launch a new line of crypto-based debit cards.

Using the new card service, users will be able to spend their crypto funds directly at millions of merchants worldwide to clients across the U.K. and Europe in an instant like that off an ordinary debit card.

Initially, the new main settlement currencies for the debit card will be GBP, EUR, and USD with most of the fiat and digital assets available on CEX.IO to become usable later on.

Remarking on launching the new service, CEX.IO Executive Director Konstantin Anissimov said:

“We are delighted to launch our new crypto-based debit card service in partnership with FIS. As a trusted and reliable financial technology provider, FIS has extensive expertise and industry know-how. We will leverage these advantages to simplify our business operations and offer best acceptance rates with worldwide coverage to our customers.”

Founded in 2013, CEX.IO is one of the largest international ecosystems of cryptocurrency products from entry-level users to professional traders as well as institutions and businesses that include over 4 million customers worldwide.

Simplifying Payments Using Cryptocurrencies

As cryptocurrencies continue to gain mainstream adoption, customers are looking for simple and convenient ways to pay using crypto, says Kelly Beatty, Head of Payment Solutions at FIS:

“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. 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 is a payment services provider that specializes in credit and debit card processing and other financial services to institutions and merchants. The company oversees more than 79 billion transactions across 20,000 clients that include over $10 trillion worth of transactions.