Crypto payment entity Simplex has reportedly completed the SEPA Instant integration as a payment measure, making it possible for EU partners to easily and flexibly convert funds into virtual assets. 

Specifically, SEPA Instant – short for Single European Payment Arena, supporting payment harmonization throughout the EU region – reportedly processes and finalizes credit transfers in a matter of seconds. 

The process, which is entirely automated, will still have a connection to the traditional payment network, but comes with a more accelerated speed compared to standard bank wires.

For Simplex, SEPA Instant is reportedly viewed as a significant development regarding the promotion of seamless adoption of digital assets. Via the new collaboration, EU-based clients will be able to conduct immediate deposits through Simplex’s partners, including Changelly and Poloniex, at an enhanced speed and a reduced cost compared to traditional debit or credit cards.

Users can additionally register for a Simplex banking account, granting them the ability to receive their funds from a wide range of Simplex partners.

SEPA Instant reportedly offers to facilitate features for a maximum of $119,000, or 100,000 euros, 24/7. Simplex users and partners will have access to the entire processing limit. 

Different top-tier entities have reportedly been looking to tap into Simplex’s fiat on-ramp. The Polkadot network completed the adoption of the payment network in March this year, enabling clients to buy DOT tokens using credit cards, debit cards, Apple Pay, and bank transfer.

In December last year, Simplex reportedly formed an alliance with Visa, which primarily revolves around crypto debit cards.