Cardano’s native cryptocurrency, ADA, will now be available for direct purchases from credit or debit cards, Apple Pay, or even bank transfers. Its partnership with Simplex, a solution facilitating fiat on/off ramps to the cryptocurrency ecosystem, makes this possible.
Cardano’s Integration With Simplex
Simplex, a crypto infrastructure provider, based in Israel, was launched in 2014. The EU-licensed business hit a vital landmark last year by becoming a major partner in the Visa network.
In a press release earlier today, the company revealed its new collaboration with Cardano. Simplex will add ADA to its supported cryptos list and make it available to its growing “network” of partners, including multiple cryptocurrency exchanges. Subsequently, the integration would make it possible for millions of people to buy ADA with a credit or debit card, Apple payments, or via SEPA or a transfer to SWIFT, in an easy, safe environment.
Simplex clarified that after careful consideration of the token and the blockchain project behind it, the addition of the ADA came. Cardano was described in the statement as the first platform that builds on peer review research and has been built using methodology based on evidence.
Simplex Invests Faith in ADA
Simplex also believes in Cardano’s potential to impact different spheres of daily life positively. It is safe enough to protect billions of data, scale sufficient to accommodate global systems, and robust adequate to support fundamental change.
Simplex offers a complete fiat/crypto infrastructure worldwide by operating alongside notable names in the crypto ecosystem (i.e. Binance, Huobi and BitPay). The status quo of crypto on/off ramps has been changing since 2014 due to Simplex.
With a credit card and debit card offering zero chargeback guarantee, Simplex established their first riskless global fiat onramp. Simplex is also an EU financial approved entity and a Visa network Principal Member. It was one of 10 crypto firms with the most significant impact in 2020.
Cardano Listing Fuels the ADA Bullish Fire
Since the beginning of 2021, the original token of Cardano has been among the most outstanding performers. On January 1st, it traded about $0.18, but it quickly began to rise in the months following.
After a 730 percent boost to around $1.5, ADA had painted a new all-time high. The increased uncertainty also hit ADA on the crypto market, and soon after, it fell below $1.
Nevertheless, the cryptocurrency resumed its bull run quite quickly and hit a new high of more than $1.55 a few weeks ago. Despite retracing slightly to $1.3, ADA is currently the sixth-largest cryptocurrency by that metric, with a market cap well above $40 billion. A spike in buying pressure around the current price levels could see Cardano recovering from past losses.