OKCoin And Simplex Partner To Enable USD Deposits Via Credit And Debit Cards


Leading fiat-focused digital asset exchange OKCoin recently announced partnership with Simplex, a FinTech company providing payment processing solutions, to enable global users to make USD deposits via debit or credit card.

The official announcement reads:

“As a regulated, fiat-focused digital asset exchange, providing a wide variety of fiat onramp capabilities is one of the key value propositions that we offer consumers. That’s why we’re thrilled to announce that we’ve partnered with Simplex, a FinTech company providing payment processing solutions, to allow customers to use their credit and debit cards to deposit USD into our exchange.”

he deposit minimum is $50 with a maximum deposit limit of $500 per transaction and $1,000 per month. OKCoin will charge a 0.45% + 0.3 fee, in addition to a 5% card processor fee that Simplex will charge. Debit and credit card deposits are currently available to OKCoin users outside of the U.S., Europe, and China.

They are running a promotion to celebrate the new method of making deposits. New users who deposit any digital asset plus a minimum of $50 will receive a $50 worth of BTC. The promotion period starts on June 17th and ends on July 1st. The bonus of $50 worth of BTC will be credited to the customer’s OKCoin account for two weeks (July 15, 2019) after the promotion ends.

Tim Byun, the CEO of OKCoin says:

“Traders and businesses come to OKCoin to seamlessly convert between fiat currencies and today’s leading digital assets. Our users have been asking about debit and credit cards and we are glad to deliver a new payment option for them. As we welcome Simplex to our existing banking and fiat partners, our goal remains to make it easier than ever to start trading crypto quickly and confidently.”

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