KuCoin and Simplex Partner to Enable Credit and Debit Card Payments for Mainstream Crypto Users

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Nov 29, 2018, 09:00 ET

This service can be found in "Assets – Deposit" and currently supports the purchasing of BTC, ETH, and LTC with both USD and EUR in over 100 countries.

SINGAPORE, Nov. 29, 2018 /PRNewswire/ -- KuCoin, a Singapore-based international cryptocurrency exchange, announced a new partnership today with Simplex, an EU leading financial institution providing fraud-free payment processing solutions. The partnership will enable new and current KuCoin users worldwide to purchase crypto using their credit and debit cards, improving the purchase experience and opening up the crypto exchange to more mainstream users.

Simplex enables worldwide merchants to accept diverse payment methods with zero exposure to the risk of chargeback. KuCoin is one of the most popular digital asset exchanges offering a user-friendly trading platform, competitive fees and nearly 400 trading pairs for users to choose from.

By partnering together, KuCoin will be able to continue its rapid growth by allowing users to complete payment for crypto using their credit card or debit card. Doing so will reduce the barrier to entry for mainstream users while making the crypto purchasing experience easier and more convenient. This service can be found in "Assets – Deposit" and currently supports the purchasing of BTC, ETH, and LTC with both USD and EUR in over 100 countries.

"From its inception, KuCoin has been committed to offering secure, stable and easy-to-use trading services to all our investors," said Michael Gan, CEO at KuCoin. "We know that a number of newcomers in the crypto world have been hindered by the incoherent transaction from fiat to digital assets. Through this partnership, the two organizations will work together to provide a seamless experience and, more significantly, bring cryptocurrency to the masses."

"Simplex's mission is to make it easier for mainstream users to enter the crypto world, and we believe that providing payment methods users are familiar with is crucial to this. By partnering with KuCoin, mainstream users will be able to easily deposit funds and purchase crypto with their credit or debit card, making it easier for users to join the crypto exchange," said Nimrod Lehavi, the Co-Founder and CEO of Simplex.

KuCoin was launched in September 2017 and since then it has grown rapidly. Today KuCoin is one of the largest exchanges with more than 5 million registered users worldwide.

About KuCoin

The KuCoin Exchange opened for cryptocurrency trading in September 2017 and has enjoyed steady growth into 2018. The KuCoin exchange puts a high priority on the quality of the projects listed based on a well-trained research department that scours the blockchain industry for the highest quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries. In November, 2018 'The People's Exchange' officially partnered with IDG Capital, Matrix Partners and Neo Global Capital.

About Simplex

Simplex is an EU licensed financial institution providing fraudless payment processing solutions worldwide. Simplex processes credit card payments with a 100% guarantee – in case of a fraud chargeback, the merchant gets paid by Simplex. Our cutting-edge fraud prevention solution and proprietary state-of-the-art AI technology blocks fraudulent users and allows legitimate users to complete payments with ease, increasing conversion rates and enabling merchants to focus on their business growth. Simplex's HQ are located in Israel, with subsidiaries in the UK, US, and Lithuania. Founded in 2014, Simplex works with some of the largest crypto exchanges, wallets and platforms in the world today such as Shapeshift, BRD, Litecoin Foundation, Mycrypto, XAPO and Changelly.

SOURCE KuCoin