In line with a recent official ‘announcement‘ published, Singapore-based crypto-currency exchange named ‘KuCoin’ is now working in collaboration with Israel based payments processing firm ‘Simplex’ to offer its users buy crypto-currencies via credit card.
KuCoin exchange has already added the service to its assets page, the announcement stated. Presently, the users are able to purchase Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Bitcoin Cash ABC [ABC] and Litecoin [LTC] for Euros & Dollars now. The service is reportedly accessible in over 100 different countries.
Adding further, Simplex – that conjointly has offices within U.K. U.S. and Lithuania – has already provided its “fraud-free” payment processing services to other firms, including Shapeshift, the Litecoin Foundation, Xapo along with Changelly.
As ‘reported‘ earlier, KuCoin closed a Series A funding round priced around $20 Mln in late Nov. last year. The round was led by IDG Capital, Matrix Partners along with Neo Global Capital. The exchange reported that the funds would be deployed to release KuCoin’s 2.0 platform.
Even earlier this year, Malta-based renowned cryptocurrency exchange named ‘Binance’ conjointly added support for the credit card purchases. Later the firm ‘introduced‘ credit card purchases within its official wallet named ‘Trust’. In both cases, the firm conjointly partnered with Simplex to offer credit & debit card purchases of Ripple, Bitcoin, Bitcoin Cash, Litecoin & Ethereum.
Just earlier in March, leading U.S. based retailer ‘Kroger’ started negotiating with the Morgan Creek Digital team, considering the employment of the ‘Lightning Network‘ within its stores. The decision came shortly after the brand had stopped accepting Visa at some locations due to an excessive fees.