CoinEx, a global crypto exchange, recently announced it has signed a new partnership agreement with Simplex, a leader in the fiat infrastructure space. Consequently, it will be more convenient to purchase crypto from CoinEx from almost any location in the world.
Details of the Partnership
With the partnership, users of CoinEx will be able to buy major crypto coins such as ETH, BTC, BCH, USDT, and LTC using a MasterCard or Visa credit card. Besides that, several fiat currencies such as EUR, USD, and CAD are supported.
According to the founder of CoinEx, Haipo Yang, they were happy to enter into this partnership with Simplex, which would make it easier for more people to enter the crypto world. He also noted that it marked the first time the exchange had on-ramped fiat. According to him, the goal is to offer current and future users more convenience.
The charges for using the Simplex service are a 3.5% processing per transaction with a minimum limit of 10 USD. There is an upper daily limit per user of $20,000 and a monthly upper limit of $50,000. According to Nimrod Lehavi, the CEO of Simplex, secure and fast credit card payments will be important in the mass adoption of crypto.
CoinEx is Doing Well
CoinEx has over a hundred projects listed. It has rapidly grown to be one of the best known crypto exchanges in the world. In December 2019, the exchange was able to obtain an operating license in Estonia. According to their CEO, the exchange has a goal of covering at least 10 different language markets in 2020. Additionally, they have a goal of creating a fiat gateway that will enable them to attract more users globally.
The History of CoinEx
CoinEx has been around since December 2017. It offers crypto exchange services. The exchange is currently regulated in Estonia and is the subsidiary of ViaBTC Group, the fifth-largest BTC mining pool globally. ViaBTC also happens to be the largest BCH mining pool globally.
The exchange supports several trading instruments that include margin trading, perpetual contract, spot trading, and other derivatives trading. The platform’s services are offered in about 100 nations in several languages that include Korean, English, Russian, and Chinese.
A History of Simplex
Simplex is a fiat infrastructure provider for firms operating in the crypto sector. It offers fraud-less payment processing solutions for firms that wish to help their customers form a bridge between the crypto and fiat world. The company processes credit card payments with a guarantee of zero fraud. In case there is a chargeback, the merchant is compensated by Simplex. To ensure zero fraud, the company utilizes innovative AI solutions combined with other fraud prevention measures to find and cancel fraudulent transactions before they happen. As a result, merchants can focus on running their businesses. The company is based in Israel and has a subsidiary in Lithuania. It was created in 2014 and has collaborated with some of the largest crypto exchanges and wallets since it was formed.
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