Singapore-based cryptocurrency exchange KuCoin has partnered with Israeli financial services company Simplex to give users the ability to purchase cryptocurrency using credit and debit cards.
According to the KuCoin website, customers will now be able to buy Bitcoin, Ethereum, Litecoin using their payment cards. Visa and MasterCard have stopped providing this option to customers because they consider investing in cryptocurrency to be risky.
Simplex is a licensed financial institution that provides online solutions for processing payments and preventing fraud associated with such payments. The company was founded in Israel in 2014, raised $7 million in February 2016 from a number of investors, including Bitmain, and now partners with cryptocurrency companies to provide them with payment processing services.
KuCoin Exchange was created in September 2017 and is one of the popular cryptocurrency exchanges. According to Coinmarketcap, the exchange processes approximately $12 million in cryptocurrency transactions in 24 hours.
Shortly after launch, the exchange switched from the Ethereum blockchain to the EOS blockchain, and this November raised $20 million in funding from three different investment firms.
According to financemagnates.com
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