Simplex, a payments processing company, announced on June 1 that it would be providing its services for companies that want to launch initial coin offerings (ICOs). Simplex will start providing its new service to companies it is already working with.
Simplex was founded in 2014 with the aim of providing payment processing services to the crypto industry. The company’s founding was in part inspired by founder Nimrod Lehavi’s experience with Bitcoin. Lehavi was living in a small town in central Israel and, when he tried to purchase Bitcoin, he was unable to do it as the payments system he was using couldn’t verify his address.
The company will start supporting ICOs organised by companies it is already familiar with. This, according to Simplex, is to reduce the constraints imposed by on-boarding due diligence.
