NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem, announced earlier this week it has joined forces with fiat infrastructure provider Simplex to help make XEM, NEM’s native token, purchasable by credit and debit card through Simplex’s global network of partnerships, which includes exchanges, brokers, and wallets.
According to NEM, Simplex’s fiat credit and debit purchase options offer a simplified process for individuals entering the cryptocurrency space.
“This partnership will provide an easy global on-ramp to XEM, enabling access to Simplex’s extensive network of exchanges globally. By providing users with greater flexibility in purchasing, Simplex will broaden the reach of XEM.”
Nicholas Pelecanos, Head of Trading at NEM, spoke about the partnership by stating:
“Simplex’s user experience is unparalleled, and we’re thrilled to work with this industry behemoth to extend NEM’s global reach. This will enable anyone, anywhere, to have a foray into NEM and the digital assets space, democratizing access and propelling the industry forward to the next phase of adoption.”
As previously reported, NEM Ventures consists of a small, highly motivated team of investment and technology professionals. NEM Ventures promotes the growth of the NEM ecosystem through strategic investments in projects which align with the ethos of the NEM community, with a particular interest in social impact and environmentally conscious projects.
To date, NEM Ventures have invested in a number of projects building on the NEM blockchain or which expand the ecosystem, including Vimba, Mobi, Ample, IoDLT, Techemy, and CycleBit.