Simplex is the trading style of Simplex Payment Services, UAB, based in Vilnius, Lithuania. The Bank of Lithuania regulates the company since July 2019 as an e-Money institution with the Authorization Code LB001894.

The company was founded by Israelis Nimrod Lehavi (LinkedIn), Erez Shapira (LinkedIn), and Netanel Kabala (LinkedIn). The company’s operational offices are believed to be in Givatyaim, Israel (LinkedIn profile). This is also where most of the employees associated with the company on LinkedIn are located.

In September 2021, Nuvei (PC42 profile), a Nasdaq-listed global payment technology provider, acquired Simplex.

Simplex focuses on connecting cryptocurrencies to the FIAT infrastructure of the traditional financial system. Simplex processes crypto-to-credit card payments with a 100% guarantee for merchants. In doing so, Simplex compensates merchants in the event of fraud or chargebacks.

Simplex, like Bits of Gold (profile) and Koinal (profile), is part of the ecosystem surrounding crypto trading platform StormGain (www.stormgain.com) and handles cryptocurrency credit card payments for StornGain clients. The acquired cryptos can then be used for trading on StormGrain.

We have not yet discovered Simplex as a payment facilitator in a scam or cybercrime venture and therefore include it in our “Green Compliance Light” list.