Bitmain and DRW subsidiary Cumberland Mining are set to exit the crypto finance software provider five years after their investment.

Payment technology provider Nuvei Corporation agreed yesterday to buy Simplex, an Israel-headquartered cryptocurrency infrastructure provider backed by corporate investors Bitmain and Cumberland Mining, for approximately $250m in an all-cash transaction.

Founded in 2014, Simplex provides software that allows digital currency exchanges, brokers, wallet and liquidity providers to buy or sell cryptocurrencies through credit and debit cards.

Nuvei chairman and CEO Philip Fayer said: “We expect Simplex to enhance and expand Nuvei’s steadily growing portfolio of alternative payment methods, adding turnkey…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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