KuCoin, a Singapore-based international cryptocurrency exchange, announced on Thursday it has formed a new partnership today with Simplex, an EU financial institution providing fraud-free payment processing solutions. According to KuCoin, the partnership will enable new as well as current KuCoin users worldwide to purchase crypto using their credit and debit cards, improving the purchase experience and opening up the crypto exchange to more mainstream users.
“By partnering together, KuCoin will be able to continue its rapid growth by allowing users to complete payment for crypto using their credit card or debit card. Doing so will reduce the barrier to entry for mainstream users while making the crypto purchasing experience easier and more convenient. This service can be found in ‘Assets – Deposit’ and currently supports the purchasing of BTC, ETH, and LTC with both USD and EUR in over 100 countries.”
While sharing more details about the partnership, Michael Gan, CEO at KuCoin, stated:
“From its inception, KuCoin has been committed to offering secure, stable and easy-to-use trading services to all our investors. We know that a number of newcomers in the crypto world have been hindered by the incoherent transaction from fiat to digital assets. Through this partnership, the two organizations will work together to provide a seamless experience and, more significantly, bring cryptocurrency to the masses.”
Nimrod Lehavi, the Co-Founder and CEO of Simplex, went on to add:
“Simplex’s mission is to make it easier for mainstream users to enter the crypto world, and we believe that providing payment methods users are familiar with is crucial to this. By partnering with KuCoin, mainstream users will be able to easily deposit funds and purchase crypto with their credit or debit card, making it easier for users to join the crypto exchange.”