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  • Huobi users can now use both credit and debit cards to purchase cryptos.
  • Simplex is one of the first fintech companies to provide payment services to cryptocurrency companies.

Huobi OTC has partnered with Simplex to accept deposits using Visa and Mastercard. As per Huobi’s announcement, users can use both credit and debit cards to purchase Bitcoin, Ethereum, Litecoin, and Ripple. They have imposed a daily cap of $20,000 and a monthly cap of $50,000. The minimum fee of the exchange has been set at $10 and can vary with average around 3.5%.

Ross Zhang, Huobi Group’s head of marketing, stated:  

“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, co-founder and CEO of Simplex, said:  

“Easy and fast credit card payments, for mainstream users, is 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.”