Huobi crypto exchange is looking to enhance user experience by making the KYC process easier when transacting in credit and debit. The blockchain and crypto infrastructure provider plans to make digital asset transactions seamless by rolling out a new payment service.
Huobi Payment Service
Huobi, the largest crypto exchange by liquidity and real trading value, is making the KYC protocol easier for investors and traders. In a recent announcement, Huobi Group has introduced new payment support to make Visa and Mastercard transactions easier on the platform. The new service will be run through Huobi Technology ( Gibraltar ) Co, which is a regulated DLT entity by the Gibraltar Financial Services Commission.
What Will Change?
Prior to this announcement, users could transact in Visa and Mastercard on the platform, but the onboarding process redirected users to other payment service providers for due diligence. In a push to build out Visa and Mastercard support, users will no longer need to navigate a separate interface to complete KYC ( Know Your Customer ) protocols. By funneling through Huobi Gibraltar for KYC and other user onboarding tasks, the process to purchase digital assets with Visa & Mastercard will be quicker and more efficient. Huobi believes this will be a viable move to minimize reliance on third-party solutions. With Huobi being one of the earliest market entrants, they believe their research and development will continue to widen their horizons.
Ciara Sun, Vice President of Global Business at Huobi Group stated that:
“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. 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.”
Through the new integrations, Visa users in many European countries & Australia will be able to take advantage of the enhanced framework. Additionally, Mastercard holders in the following locations will be able to leverage the new payment service:
- United Kingdom
- Czech Republic
Cryptocurrency & Fiat Support
Users in these locations can now buy cryptocurrencies with debit/credit cards under the new integrated payment service. The fiat-to-crypto-gateway will support the following cryptocurrencies:
Additionally, the supported fiat currencies will include:
Ciara Sun concluded the announcement by stating that:
“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.”
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