Fiat on-off ramps are playing a crucial part in the adoption of any cryptocurrency. With the rise in popularity of cryptos, it becomes necessary for users, particularly novices, to purchase their favorite cryptocurrencies in a simple and efficient manner.
Considering the quick growth and rising adoption, Simplex incorporated Cardano in its platform. Cardano blockchain is also growing as one of the major competitors of Ethereum blockchain. The blockchain is yet to introduce smart contracts, but is expected soon.
With respect to crypto sector, the Charles Hoskinson-led venture leads the commits in GitHub. The firm also entered into a range of sectors including public governance and education, e-commerce and decentralized finance.
Simplex remarked:
“The renewed interest in Cardano is the product of a loyal social media following, a thriving community, and landmark achievements. As its popularity and appeal keep rising, both investors and developers will continue to explore new boundaries. Users can purchase ADA with their debit/credit card, Apple Pay, SEPA, or SWIFT transfers via any Simplex partner.”
The Israeli firm further appreciated Cardano to state “In addition, it is secure enough to protect the data of billions, scalable enough to accommodate global systems, and robust enough to support foundational change. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies.”
TOP Blockchains by average daily development activity on Github in November – December 2020
Data source: @santimentfeed$ADA $ETH $DOT $KSM $GNO $SNT $ATOM $SOL $CELO $ARK $MANA $LINK $MIOTA $STX $MKR $SNX $EOS $BTC $SKL $LSK pic.twitter.com/hQ5FFKwcm9
— CryptoDiffer (@CryptoDiffer) December 7, 2020
Notably, Cardano is the latest cryptocurrency to be added to the Simplex platform, which already supports Bitcoin (BTC), Binance Coin (BNB), Aave (AAVE), Ethereum (ETH), Dash (DASH), Polkadot (DOT), Litecoin (LTC), Stellar (XLM), Tether (USDT) and EOS. Interestingly, the platform also supports 50 fiat currencies including the Aussie, the euro, the US dollar, the pound, the Argentine peso, and the Nigerian naira, among others.
With respect to Cardano users, the integration will only encourage them to promote the blockchain and ADA across the globe. The cryptocurrency venture has turned out to be the most proactive, in-terms of adoption through partnership with global enterprises and governments, and price rally that has made ADA, the in-house crypto of Cardano, as the sixth largest crypto by market cap.
In recent times, IOHK disclosed that it had collaborated with the Ethiopian government to save academic documents. The venture is the biggest blockchain-based education platform in the world.