Huobi, one of the largest cryptocurrency exchanges in the world, announced that it has added support for Visa and Mastercard payments to its over-the-counter (OTC) trading desk.
Huobi OTC traders can now buy digital assets using debit and creditcards from Visa and Mastercard. Huobi Group has partnered with payment processor Simplex to make the new payment options possible.
For now, using Visa or Mastercard, traders can buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP (XRP) via Huobi’s peer-to-peer exchange (Huobi OTC). Through Simplex, users can deposits $20,000 per day with a monthly limit of $50,000. Fees may fluctuate but on average will be 3.5%.
Ross Zhang, Head of Marketing at Huobi Group, said about the news:
“Bridging the divide between the fiat and crypto is still a big problem for the community and this is one of the ways we are looking to solve it. Partnering with Simplex will allow us to significantly minimize the obstacles our customers’ face – something we are always interested in.”
Nimrod Lehavi, Simplex co-founder and CEO, commented:
“Easy and fast credit card payments, for mainstream users, are a key factor in wider adoption of crypto in general. We’re thrilled to partner up with Huobi and together enable a much better, fast, and easy experience.”
Huobi is a Singapore-based cryptocurrency exchange. Currently, Huobi is the 3rd largest crypto exchange based on daily volume and in order to remain one of the most popular and most used exchanges, Huobi is continuously looking to improve the platform. These new payment options are most certainly helping Huobi to stay relevant in the crypto space.