Polkadot becomes latest to use Simplex’s fiat on-ramp

The integration with Simplex will provide DOT users another route from fiat into crypto.

Fiat-to-crypto on-ramp provider Simplex will now support Polkadot in its network of crypto exchanges, wallets and brokers.

In an announcement today, Simplex said its integration of Polkadot and its DOT token would allow crypto users to purchase the token with a credit or debit card, Apple Pay or bank transfer. The financial institution is aiming for “mass cryptocurrency acquisition and adoption,” saying that the addition of DOT to its list of supported digital assets would bring it closer to this goal.

Simplex provides services to crypto exchanges including Binance and OKCoin. The firm has partnered with more than 350 crypto firms since its launch and enables the purchase of more than 50 cryptocurrencies through its network. Most recently, the payment processor has been integrated into the Opera web browser.

Projects that have joined the Polkadot ecosystem have also seen a boost in their token prices over the past few months. Ren (REN), Ocean Protocol (OCEAN) and the Celer Network (CELR) have led the way in facilitating cross-chain interoperability between networks, resulting in increases to the number of active tokenholders and each project’s trading volume — for example, the price of CELR rose more than 240% between January and March. 

At the time of publication, the price of DOT is $35.85, having risen more than 300% since Jan. 1.