Global digital asset exchange OKCoin announced on Monday it has teamed up with fintech Simplex to enable international users to make USD deposits through debit or credit card. According to OKCoin, the feature is available to users outside of Europe, China and the U.S., with plans to extend functionality to additional countries in the future.
“OKCoin strives to maximize the number of choices for its customers, and with this latest addition of accepting credit and debit cards, OKCoin now offers users even more ways to securely onboard fiat. From now until July 1, 2019, 11:59 pm PST, OKCoin will gift $50 worth of BTC to new users who use their debit or credit card to make a $50 deposit plus deposit any amount of a supported digital asset.”
While sharing more details about the partnership, OKCoin CEO, Tim Byun, stated:
“Traders and businesses come to OKCoin to seamlessly convert between fiat currencies and today’s leading digital assets. Our users have been asking about debit and credit cards and we are glad to deliver a new payment option for them. As we welcome Simplex to our existing banking and fiat partners, our goal remains to make it easier than ever to start trading crypto quickly and confidently.”
Nimrod Lehavi, Co-Founder and CEO of Simplex, also commented:
“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 OKCoin and together enable a much better, fast, and easy experience.”
OKCoin went on to report this is just one of several updates it has made in recent months to make buying and selling tokens more accessible to people around the world. The company added:
“After the creation of OK PiggyBank, a new token listing form, and strategic additions to their lineup of cryptocurrencies, this new option for depositing fiat was the natural next step. The new feature comes with a few stipulations: the minimum deposit for this service is $50 USD, and Simplex includes a 5% processing fee.”