The wallet of cryptocurrency exchange Huobi now allows users to buy cryptocurrencies with credit and debit cards.
The cryptocurrency wallet of major cryptocurrency exchange Huobi now allows users to buy cryptocurrencies with credit and debit cards.
Until now, Huobi Wallet only allowed its users to exchange between different crypto assets and access to decentralized lending, while lacking a fiat onramp. Huobi Wallet CEO Will Huang said that now the applications provides for most of the basic needs of simple crypto users:
“[The app] has become a one-stop app for users to buy, store, swap and transfer crypto on the go, while retaining complete control of their assets.”
Huobi Wallet is purportedly one of the largest applications of its kind in the Asia Pacific region. The app supports over 18 cryptocurrencies and multiple tokens and reportedly has over half a million users in 200 countries.
Huobi and Simplex did not answer Cointelegraph’s inquiry by press time.
Simplex: a major payment processor in the crypto market
Simplex is a popular payment processing partner among major cryptocurrency firms. As Cointelegraph reported at the end of April, the firm recently started powering the fiat onramp of Bitmain-affiliated financial service platform Matrixport.
Earlier this year, crypto lending service Celsius also integrated the fiat onramp developed by Simplex into its platform. Furthermore, Huobi competitor and major crypto exchange Binance started using Simplex to allow its users to buy cryptocurrency on the platform with 15 more fiat currencies in February.