As part of its strategy to power its next phase of growth, global crypto exchange CEX.IO has appointed Checkout.com as its preferred global payment processor, which uses Visa Direct, Visa’s real time money movement network, “to provide real-time off-ramps for its customers.”
Since its launch in 2013, CEX.IO has quickly “established itself as a leading crypto ecosystem with over five million users worldwide.”
It was one of the first platforms “to offer fiat-to-crypto transactions and accessible off-ramps with card payments and bank transfers to its clients.”
And to help maintain this “leadership” position, it is partnering “with Checkout.com to support its fiat-to-crypto on- and off-ramp.”
Konsantin Anissimov, Chief Operations Officer Officer at CEX.IO, said:
“Checkout.com is a payment processor that really understands the industry and has the technology and performance to deliver results. Our focus is on providing a unified and seamless experience for our clients to trade crypto assets in a simple and secure way. There is an immense opportunity for our business in the Web3 space, and Checkout.com is the provider enabling us to remain agile.”
Partnering with a modern payment processor that “could power its next phase of growth was important to CEX.IO—as entrenched payment providers have challenges keeping up with the pace of crypto.”
As a result, the exchange is “leveraging Checkout.com’s global card processing and its multi-region Card Payouts solutions, enabled by Visa Direct, to provide global coverage and improved payments performance.”
Checkout.com has in turn “created a custom solution for CEX.IO at a rapid pace and focused on the quality of the CEX.IO customer experience.”
Ruben Salazar Genovez, Global Head of Visa Direct, said:
“We are excited to see the crypto ecosystem tap into the power of our money-movement network and enable CEX.IO customers to receive funds directly on their eligible cards. Through this collaboration, Visa Direct helps bridge crypto and fiat currencies in over 130 countries, connecting the crypto ecosystem with our global network of 80 million merchant locations and more than 15,000 financial institutions.”
Max Rothman, Head of Crypto & Digital Assets at Checkout.com, said:
“Merchants in the crypto space are increasingly frustrated with legacy providers not being able to deliver results– they’re wondering why they’d build the future of the internet on outdated infrastructure. We offer a cloud-based payment platform, with a modular product suite built on the latest tech and dedicated teams of payment experts. That’s why we already power the world’s leading crypto exchanges, which represent almost 80% of global trading volumes. We look forward to serving as CEX.IO’s strategic payments growth partner, in collaboration with Visa.”
As the “leader” for enterprise-class businesses seeking to embrace emerging technologies, Checkout.com’s payment rails “offer a versatile platform for merchants bridging into Web3.”
The company “lowers the technical barrier to entry and offers a white-glove, consultative approach that is valued by large enterprises.” Its modular suite of products and resilient platform is “the backbone of many fast-growing fan token providers, blockchain-based wallets and global crypto exchanges.”