Ethos, crypto storage, and monitoring platform have announced its partnership with Simplex, which would bring the direct crypto purchase options within its universal wallet.
The recent partnership would let the users of the Ethos’s Universal wallet make direct crypto purchases of Bitcoin and other altcoins within the app with their credit/debit cards. The update for the same would be rolled out with Universal Wallet v1.6.
Ethos CEO and Founder, Shingo Lavine said,
“Ethos is excited to offer a wealth of dynamic capabilities to consumers, The Universal Wallet will become the most accessible way for people to safely interact with cryptocurrencies using innovative services such as Simplex.”
What Simplex Brings to the Table
Simplex a crypto purchase service provider, currently supports the direct purchase of some of the top cryptocurrency including XRP, BTC, ETH, BCH, and LTC. After its integration with the Ethos’s Universal Wallet, the users would not need to buy their crypto from an exchange and rather, they can do it from within the wallet app.
The latest partnership would save the users from additional exchange costs, which charges a good amount, especially for bank transfers. The Simplex CEO promises a seamless fiat to cryptocurrency conversion.
Ethos has also added support for TruUSD, an exchange independent stable coin with 1-to-1 ratio against US Dollar.
The CEO attributes the achievements and functionalities of its network to their broad experience in Artificial intelligence, machine learning, and security expertise.
Simplex CEO Nimrod Lehavi said,
“As Ethos expands its service offering, Simplex is proud to play a fundamental role in offering seamless, easy conversion between fiat and cryptocurrencies while ensuring transaction are completely fraud-free.We are able to achieve this thanks to our advanced machine learning AI algorithms and broad accumulated experience as security experts.”
Blockchain and Artificial Intelligence in combination can bring in amazing results for various problems associated with the decentralized network. The current partnership between Ethos and Simplex is a clear indication of how the collaboration of two technologies can be beneficial for both of them.
Blockchain use cases and collaboration with major techs of modern day can help in paving the path for larger adoption.