OKCoin, the major fiat-crypto trading platform, has partnered with Simplex. The fintech firm aims to enable users to deposit USD via debit or credit card.

In an official press release, the company states that it will allow residents outside of Europe, China and the U.S to deposit American dollars on the OKCoin exchange. Users will be able to do it via their cards. The minimal deposit is $50; Simplex will charge a 5% processing fee for every transaction.

Simplex is an ardent fighter against fraud. Thus it utilizes AI and proprietary detection algorithms to track operations. The goal is to analyze the transactions and lower the risk of possible fraudulent card payments.

The company provides a wide array of services, like fiat on-ramps, turnkey, and escrow services. It also has a financial license from the European Union and offices in Israel, the U.K., the U.S., and Lithuania.

According to the press release, this is the beginning of the collaboration between Simplex and OKCoin. Eventually, the two are planning to expand it.

In the meanwhile, Nimrod Lehavi, Simplex CEO, underscored that leveraging the use of credit cards plays a key role in facilitating mass crypto adoption.

Simplex gathering pace

This is not the first time Simplex, which is headquartered in Israel, strikes a major partnership. Recently, Liquid, a cryptocurrency trading platform launched by Quoine last year, also initiated cooperation.

Besides, the company is working with the crypto giant Binance. In early February, the two allowed users to buy crypto with their credit cards. Besides, Simplex is facilitating crypto purchases for Trust Wallet users.

Likewise, Huobi, one of the largest cryptocurrency exchanges in the world, also partnered with Simplex. The companies enabled support for Visa and Mastercard payments to its over-the-counter trading desk. 

At the same time, OKCoin is also expanding. The crypto exchange platform has recently opened an office in Malta.


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Lesia Dubenko
A warm hello from Ukraine! My name is Lesia, I am a journalist, writer, political scientist, and crypto enthusiast. Before joining AltcoinBuzz in May I knew nothing about crypto, I was in the dark (it was very gloomy indeed). I was all skeptic and suspicious. But then one day, probably in June-July when I was doing a podcast with James and Matt, I finally grasped the concept in full. That is when I truly started to enjoy it thoroughly. I am a big believer in crypto and blockchain. There is no doubt that it is the future. But be patient, it needs time, like a fine Chardonnay. However, if you want to know when the next bull run is happening, I highly recommend asking Luc Lammers. He will definitely spill the beans! xxx


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