Crypto exchange firm Binance has formed an alliance with payment processing company Simplex to enable users to make credit card payments for cryptocurrencies.
Simplex focuses on offering fraud-free payment processing. The company’s technology can be adopted by merchants, marketplaces and crypto platforms to process online payments.
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Clients can integrate Simplex’s credit card processing solution to buy and deposit funds in crypto exchanges.
As part of the latest partnership, Visa and Mastercard customers will be able to purchase BTC, ETH and LTC cryptocurrencies using their cards.
Simplex co-founder and CEO Nimrod Lehavi said: “Easy and fast credit card payments, for mainstream users, is a key factor in wider adoption of crypto in general. We’re thrilled to partner up with Binance and together enable a much better, fast and easy experience.”
Binance CEO Changpeng Zhao said: “We want to provide Binance traders with fast and easy access to crypto, in the most secure way possible.
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By GlobalData“Partnering with Simplex allows us to instantly bridge the gap between credit card payments and crypto for traders globally. On Binance.com, you can now buy crypto with credit cards and start trading in minutes.”
The company added that acceptance of credit card payments will help in boosting the use and accessibility of cryptocurrency globally.
