Nuvei Integrates with Dapper Labs’ Flow to Become One of the First FUSD Stablecoin Processors
MONTREAL, Jan. 10, 2022 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI) the global payment technology partner of thriving brands, has announced it has integrated with Flow, a Web3 platform designed for consumer-friendly blockchain applications. This is a significant milestone in accessible NFT purchasing and unique stablecoin processing on the blockchain, enabling a frictionless checkout experience, powered by Nuvei, for dapps built on Flow.
Flow’s next-generation, environmentally-friendly blockchain allows developers to build crypto- and crypto-enabled businesses, and users to create digital assets tradable on open markets. Nuvei brings an innovative and agile processing partner for those building on Flow by allowing users to pay with FUSD, the most prominent USD-based stablecoin on Flow.
According to the latest figures by Cointelegraph Research, 35% of all NFT traders are now on the Flow blockchain. Nuvei’s single-integration network provides Flow developers and marketplace customers seamless NFT purchase processing with FUSD via fiat. It offers greater access for NFT platforms and the ability to target a wider consumer audience: those looking for a fast and straightforward way to purchase in fiat.
“We’re delighted to be integrated with Flow—it’s exciting to see that its network is increasingly becoming the blockchain of choice for NFT traders,” said Philip Fayer, Nuvei’s Chair and CEO. “Now, thanks to our new integration, this increasing number of NFT platforms can offer their customers the ability to purchase FUSD with fiat quickly and seamlessly.”
“Nuvei brings a great payment experience option for both consumers and developers on Flow,” said Mickey Maher, SVP of Partnerships at Dapper Labs. “We’re thrilled to have them join the growing ecosystem and play a crucial part in further enabling mainstream adoption of Web3.”
The integration further positions Nuvei as the leading payment partner in the cryptocurrency and digital currency space. Flow, meanwhile, will leverage Nuvei’s bespoke fraud prevention and risk management tools backed by proven artificial intelligence technology, resulting in higher conversion rates and better liquidity, simplifying instant fiat purchases for cryptocurrencies, NFTs and decentralized finance providers.
About Nuvei
We are Nuvei (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in over 200 markets worldwide, with local acquiring in 45 markets. With support for over 500 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
About Flow
Flow is a fast, decentralized, developer-friendly Web3 platform chosen for its combination of scalability and usability, and its commitment to excellence, longevity, and empowering communities. Flow is the only layer-one blockchain originally created by a team that has consistently delivered industry-leading consumer-scale web3 experiences including CryptoKitties, Dapper Wallet, and NBA Top Shot.
Flow boasts a rich ecosystem of top entertainment brands, development studios, and venture-backed startups. Flow ecosystem partners include global IP brands like Warner Music, Ubisoft, NBA, NFL, LaLiga, and UFC; e-commerce leaders Shopify, leading game developers, including Animoca Brands, Sumo Digital, and nWay; and many leaders in the crypto space such as Circle, Binance, and Rarible.
For more on Flow, visit http://www.flow.com.
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