Huobi, which claims to be one of the world’s leading virtual asset exchanges, has announced a partnership with Solaris, in order “to deliver a crypto-to-fiat debit card that will enable Huobi users to spend digital assets at the point-of-sale globally.”
The Visa-approved program will be “available to both new and existing users residing in the European Economic Area (EEA) from Q2 in 2023.” They will be able “to select and spend from a range of different digital assets linked to their card at the point of sale, via their Huobi trading account.”
This card functionality will “remove friction from the user experience, saving time for Huobi users when it comes to on/off ramp fiat and digital assets between accounts and cards.”
Huobi VISA card holders who pay with Huobi’s platform token Huobi Token (HT) “will be rewarded with cashback benefits in accordance with their card levels.” Solaris will be providing full end-to-end processing and issuing capabilities “for the program, including Visa BIN sponsorship.”
Justin Sun, a member of the Huobi Global Advisory Board, said:
“Huobi highly values our user experience and continuously works to drive improvement for users. This partnership will help us deliver a better experience to our users.”
The Huobi-branded Visa debit cards will “offer users a range of loyalty benefits and are powered by Solaris’s Buffer card issuing and secondary authorization technology.”
Buffer enables cardholders “to make payments via a primary fiat account by connecting to a wallet of value (e.g. digital asset) held in a secondary account to deliver a frictionless payment experience.” In the future, the card will be deeply “binded with Huobi’s platform token Huobi Token (HT) to offer more benefits to card holders.”
Andrea Ramoino, Chief Strategy Officer at Solaris said:
“We are excited to be partnering with a market-leading virtual asset exchange to deliver frictionless crypto- to-fiat point-of-sale spending to the Huobi community, through our market-leading Buffer technology. This is just the first step in our partnership as we look ahead to delivering more payment options to users in the EEA region and beyond.”
Founded in 2013, Huobi is “one of the largest virtual asset exchanges in the world. Huobi serves millions of users across international markets.”
Since its establishment, Huobi has “committed to providing first class virtual asset investment services.”
Huobi’s robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help their international users “to achieve their investment objectives.”