Global payment processing platform Worldpay from FIS has teamed up with cryptocurrency platform Crypto.com to be a global validator and operator for the Crypto.org Chain, a public blockchain that enables transactions worldwide between people and businesses, according to a Tuesday (Feb. 8) press release.
Worldpay will also offer global merchant acquiring services that will supplement Crypto.com’s global expansion plans, the release stated.
“Worldpay has provided innovative solutions and services to the crypto industry for the past eight years and we’re delighted to have been selected by Crypto.com to help them take cryptocurrencies to a wider global market,” said Worldpay from FIS Head of Crypto and Emerging Business Nabil Manji in the release. “Interest in cryptocurrencies has never been greater, and it is now more important than ever to make these new technologies more accessible to more people.”
Crypto.com has more than 10 million customers across its global platform that includes the Crypto.com App, the Crypto.com Visa Card and the Crypto.com Exchange to allow users to buy and spend in more than 250 cryptocurrencies, according to the release. Through the partnership, Crypto.com will leverage Worldpay from FIS merchant services to process card-based purchases and sales of cryptocurrencies.
“By becoming a validator of our Crypto.org Chain and providing its best-in-class global merchant acquiring services, Worldpay will greatly contribute to our vision of making cryptocurrency accessible to everyone,” said Crypto.com Co-Founder and CEO Kris Marszalek in the release.
FIS processes more than $2 trillion in transactions annually across more than 100 countries in a variety of payment types and currencies.
Last month, there were warnings of a so-called “crypto winter,” with the sector’s market capitalization at $1.6 billion — almost half of the November high. Trading platform Crypto.com had previously estimated that 1 billion people would invest in crypto before the end of 2022, but that projection is likely to be delayed another year after the crypto industry downturn.
Read more: Crypto.com Sees Number of Investors Tripling to 1B by 2023
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