Poloniex Exchange Partners with Simplex for Fiat Gateway Using Debit and Credit Cards
Poloniex, an American-based crypto exchange, has recently announced its partnership with payments company, Simplex. Poloniex will leverage on this partnership to make it easier for the masses to access cryptocurrencies trading.
— Poloniex Exchange (@Poloniex) March 9, 2020
Through this partnership, 18 new fiat currencies have been added unto the Poloniex exchange. These include USD, EUR, AUD, CAD, CHF, JPY, KRW, ILS, HUF, GBP, CZK, DKK, NOK, NZD, PLN, RUB, SEK, ZAR, and TRY.
One of the major barriers to mainstream crypto trading is that, people in many countries cannot purchase them using their local currencies. Poloniex seeks to solve this challenge by adding fiat currencies from more than 18 countries. This in a way would grant people in those countries direct access to cryptocurrency using their local currencies.
Simplex is a payments company that allows users to buy cryptocurrencies using both their credit and debit cards. Through this partnership, users in such countries could seamlessly purchase cryptocurrencies on the Poloniex exchange using Simplex’s solution. It will also ensure security of payments as Simplex’s payment platform is designed to prevent fraudulent transactions.
Through this partnership and the addition of more fiat currencies on the exchange, Poloniex stands to gain more patronage not only in the U.S., but also in those countries where the newly supported fiat currencies are used.
Featured image courtesy of Shutterstock. Source: Cryptopress.