Huobi Expands Visa and Mastercard Support to Enable Seamless Cryptocurrency Transactions

By AIT News Desk On Nov 3, 2020

Huobi Group announced expanded support for Visa and Mastercard transactions on its digital asset exchange Huobi Global. The new payment service is being provided by Huobi Technology (Gibraltar) Co., Ltd (“Huobi Gibraltar”), a regulated DLT firm by the Gibraltar Financial Services Commission, and enables users to use their credit or debit cards to purchase cryptocurrencies directly through the Huobi Global user interface—without being redirected to a third-party portal.

Huobi Global previously supported Visa and Mastercard transactions through other payment service providers but the onboarding process required users to complete Know Your Customer (KYC) from a separate interface. User onboarding, including KYC, is conducted by Huobi Gibraltar but the new integration allows users to register and transact from a single interface, creating a seamless user experience and making it quicker and simpler to start trading digital assets.

“We’re always looking for ways to improve the user experience for crypto users. Our goal is to make digital assets more accessible to a much wider audience,” said Ciara Sun, Vice President of Global Business at Huobi Group. “By removing an extra step in the user journey, we’re creating a frictionless experience that makes it incredibly easy for anyone to buy crypto without leaving our exchange.”

95 Percent of Retail Leaders Prioritize AI, but Only 40 Percent Feel Ready Due to Data Gaps

Nov 21, 2024

Baffle Announces Vector Database Protection to Enhance Data Security for GenAI Applications

Nov 21, 2024

H2O.ai Generative and Predictive AI Now Validated on the Dell AI Factory with NVIDIA

Nov 21, 2024

Prev Next 1 of 40,711

The payment integration provides Huobi users with access to a seamless fiat-to-crypto gateway via the two most widely-adopted payment networks. Visa cardholders in most European countries and Australia and Mastercard cardholders in the United Kingdom, Gibraltar, France, Poland, Czech Republic, Netherlands and Australia can now use the integrated payment service to buy BTC, ETH, XRP, LTC, USDT, EOS, BCH, ETC, and BSV directly with their debit/credit cards. Supported fiat currencies include ALL, BGN, CHF, CZK, DKK, EUR, GBP, HRK, HUF, MDL, MKD, NOK, PLN, RON, SEK, TRY, UAH,HKD,AUD and USD.

In addition to simplifying the user experience, Huobi’s decision to integrate payment services through Huobi Gibraltar underscores an ongoing shift for the company as it reduces its reliance on unrelated third-party platforms. As one of the crypto industry’s earliest entrants, Huobi is leveraging its expertise to further invest in research and development for both core and ancillary trading technology.

Sun added, “In the seven years Huobi has been around, the company has witnessed many changes in the industry but we’re constantly evolving to give our users a safe, intuitive, and reliable trading experience. We know what it takes to build secure and scalable products, so the decision to bring Visa and Mastercard payments directly onto our interface aligned perfectly with our broader brand goals.”