Crypto Exchange Huobi Adds Direct Visa, Mastercard Payments

The exchange is making it simpler to pay for cryptocurrency with Visa and Mastercard with a direct service through a regulated subsidiary.

Oct 27, 2020 at 9:00 a.m. UTC
Updated Sep 14, 2021 at 10:23 a.m. UTC

Huobi, a Seychelles-based cryptocurrency exchange, is making it simpler to pay for cryptocurrency with Visa and Mastercard.

  • Announced Tuesday in a press release, customers are now able to use their credit or debit cards to make purchases directly on the exchange platform without being redirected to a third-party payments portal.
  • The company said the service is being provided by Huobi Technology (Gibraltar), a blockchain subsidiary of Huobi Global regulated in Gibraltar.
  • Previously, users of the platform could make purchases using Mastercard and Visa cards but had to go through a separate interface as a result of "know your customer" verification processes.
  • “By removing an extra step in the user journey, we’re creating a frictionless experience," Ciara Sun, vice president of Global Business at Huobi Group, said in the announcement.
  • Visa cardholders in most European countries and Australia can now use the integrated payment service to buy most of the major cryptocurrencies.
  • Mastercard cardholders in the U.K., Gibraltar, France, Poland, Czech Republic, Netherlands, and Australia are also eligible.
  • Earlier in October, the exchange teamed up with Banxa, enabling fiat deposits via Faster Payments in the U.K., the Single Euro Payments Area (SEPA) scheme in the European Union and payments platform POLi for Australian users.
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