Liquid, a cryptocurrency trading platform launched by Quoine last year, has partnered with payment processing company Simplex.
Based in Tokyo and regulated by the Japan Financial Services Agency (FSA), Liquid supports a number of fiat currencies such as SGD, USD, AUD, EUR, and JPY.
Through the partnership with Simplex, Liquid will allow users to make deposits on to the platform, in fiat currencies, using credit and debit cards.
According to the announcement, the service will initially allow Liquid customers to use a Visa or Mastercard to deposit EUR. That can be used to buy cryptocurrencies, or used as a funding currency for margin trading on Liquid. The company said that support for USD funding will be added next, with other currencies to follow soon.
Seth Melamed, Liquid Global Head of Business Development & Sales, said that this will bring more flexibility to crypto traders and holders on the Liquid platform.
Melamed further stated:
“we are taking that one step further by offering Liquid customers the freedom to make quick and easy deposits using their regular credit or debit card.”
Nimrod Lehavi, Simplex CEO, said that offering secure credit and debit card processing for crypto purchases will further boost their adoption.
“Our fraudless payment processing solution was designed to reduce entry barriers for all users interested in being a part of the rapidly growing cryptocurrency world. Our partnership with Liquid will instantly enable thousands of global users to purchase cryptocurrencies through the Liquid platform in a simple, fast and secure manner,” said Lehavi.