Simplex Allows Users To Buy Crypto With Credit Card In JPY And CAD
Simplex Allows Users To Buy Crypto With Credit Card In JPY And CAD
December 10, 2019
Simplex Allows Users To Buy Crypto With Credit Card In JPY And CAD
Simplex Allows Users To Buy Crypto With Credit Card In JPY And CAD
December 10, 2019

Simplex, the Israeli-based fintech and cryptocurrency firm, now supports two new fiat currencies: the Japanese Yen (JPY) and the Canadian Dollar (CAD).

On December 9, it has been reported by The Block that after the addition, Binance, Simplex’s partner exchange, will be able to buy crypto through credit cards by using JPY and CAD.

It has been analyzed that a spokesperson of Simplex confirmed the report by noting that the company’s partners are now able to allow their users to buy crypto using CAD or JPY on their credit card. However, the representative has not specified what companies would be first to enable the feature.

In conjunction with new currencies’ addition, Simplex has also announced a new partnership with OKEx, the major cryptocurrency exchange.

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According to a tweet from December 9, Simplex has partnered with OKEx to allow its users to buy Bitcoin (BTC), Ether (ETH)XRP, Bitcoin Cash (BCH) and Litecoin (LTC) through debit and credit cards.

However, the new feature is available on the official website of OKEx.

Moreover, Nimrod Lehavi, the CEO and Founder of Simplex, reportedly revealed the company’s plans to add Russian rubles and Turkish lira support “very soon.”

Lehavi claimed that Japan and Canada are not only two of the top markets for crypto but also “among the top 10 territories for credit card usage globally.”

As it has been previously reported, Simplex is a European Union-licensed financial institution and payments processing provider. With offices in Israel, the United Kingdom, the United States, and Lithuania, the company provides “fraud-free” payment processing services to companies including Shapeshift, the Litecoin Foundation, Xapo, and Changelly.

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According to the report, Simplex supported three fiat currencies before adding CAD and JPY: the U.S. dollar, Euro and the British pound. Alongside Binance, other partner exchanges include OKCoinKuCoin, Huobi, and Poloniex, among others.

Thus, Binance partnered with Simplex to unlock credit card crypto purchases in January 2019.

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.