Crypto Exchange KuCoin Enables Credit Card Payments For Cryptocurrencies

Announcements, News | November 29, 2018 By:

Singapore-based crypto exchange KuCoin is now allowing its customers to purchase cryptocurrencies using their credit and debit cards.

KuCoin started trading in September 2017 following an initial coin offering (ICO) that raised 5,500 bitcoin, then worth around $27.5 million. It offers trading pairs such as BTC/BCH, BTC/DASH, BTC/NEO, BTC/ETH, BTC/RDN, BTC/LTC, BTC/CVC, BTC/KCS, BTC/RPX, etc. It is ranked as the 62nd largest exchange according to Coinmarketcap.com, which puts its daily trading at around $11 million.

KuCoin announced on its website that it has partnered with Israeli payments firm Simplex to allow customers to buy bitcoin, ethereum, Litecoin, USD and EUR using their payment cards in over 100 countries.

“We are delighted to announce that KuCoin has partnered with Simplex to enable new and current KuCoin users to purchase cryptocurrencies using their credit and debit cards,” said KuCoin. “This service can be found in “Assets – Deposit.”

Simplex provides fraud-free payment processing solutions worldwide. Its customers include some of the largest crypto exchanges, wallets and platforms in the world today, such as Shapeshift, BRD, Litecoin Foundation, Mycrypto, XAPO and Changelly.

Earlier this month, KuCoin raised $20 million in a Series A funding round from IDG Capital, Neo Global Capital and Matrix Partners. The capital will be used towards bringing KuCoin Platform 2.0 to life, increasing customer support staff, global expansion, and blockchain research and development.