According to a Feb. 18 announcement United Kingdom-based cryptocurrency lending startup Celsius Network has launched in-app crypto purchases via a new partnership with Simplex.
Joining forces with @CelsiusNetwork to make the opportunities of crypto lending more accessible:https://t.co/cchc4rICFZ@Cointelegraph pic.twitter.com/ErdoOB2RTs — Simplex (@SimplexCC) February 18, 2020
Celsius clients will now be able to buy cryptocurrencies like Bitcoin (BTC) and Ether (ETH) via credit or debit cards. Similar to other Simplex-powered fiat onramps, the new feature supports major credit card issuers including Visa and Mastercard.
The new partnership will significantly cut the cost of unloading Bitcoin on the platform. According to Celsius, the addition of Simplex cuts transaction fees by at least 50%, providing crypto purchases through credit cards at a 3.5% fee.
Founded in 2014, Simplex has emerged as a major crypto-enabled payment processor. On Feb. 14, Simplex unlocked 15 new fiat currency payment options for Visa and Mastercard purchases on major cryptocurrency exchange Binance.
Cryptocurrency businesses worldwide are continuing to integrate fiat onramps into their operations in an effort to make it easier for customers to jump into crypto.