The Montreal-based payments provider reported its fourth-quarter revenue increased four per cent from the same time last year to $220.3 million. In a release, Nuvei said revenue was negatively impacted by foreign currency exchange rates, while revenue from digital assets and cryptocurrency dropped 58 per cent to $19.2 million compared to the same period a year ago. (The Logic)

Talking point: Philip Fayer, chair and CEO of Nuvei, told analysts on an earnings call Wednesday that “digital assets and cryptocurrencies [are] no longer material to Nuvei.” Based on its fourth-quarter results, Fayer expects revenue from the vertical to continue to decline and represent approximately five per cent of total revenue going forward. The company will now reprioritize other verticals given how volatile cryptocurrency has become, Fayer said. In 2021, the company added pay-in and payout support for nearly 40 cryptocurrencies and acquired Simplex, a payment solution provider to the cryptocurrency industry. Nuvei shares closed up nearly 12 per cent Wednesday on the Toronto Stock Exchange.