London-based cryptocurrency firm Koinal has reached an agreement with crypto exchange Huobi in order to provide a simpler and faster way of buying cryptocurrency.
Founded in 2018, Koinal is a card processing company in the cryptocurrency market, which is headquartered in London and part of SG Veteris Limited. Koinal’s platform simplifies the fiat–crypto exchange and enables users to easily purchase crypto with Visa or Mastercard.
Huobi is a blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by liquidity and real-trading volume. Operating in over 170 countries, the Huobi platform is dedicated to improving the freedom of money for users, and features a portfolio of crypto products and offerings, including: trading and finance, cryptocurrency finance infrastructure solutions, education, data and research, social welfare, investment and incubation, among others.
The partnership will see Koinal integrate Huobi’s systems to make it possible for users to pay for cryptocurrency via Koinal using their credit or debit cards. Koinal’s system will accept cards issued by Visa, MasterCard and China Union Pay. The integration will reportedly support many of the world’s most established cryptocurrencies, including bitcoin, Litecoin, Ripple, Ethereum, Bitcoin Cash, TRON, ALGO and IOTA.
To celebrate this milestone, Koinal and Huobi are now offering a zero-free promotion for purchases of over $500 made via Koinal on Huobi through the ‘Buy Crypto’ gateway.
Currently, there are geographical restrictions on using Koinal’s fiat-to-crypto service. Specifically, its card payment system will not accept cards issued in the following territories: Afghanistan, Anguilla, Antigua Barbuda, Aruba, Bangladesh, Benin, Botswana, Brazil, Burkina Faso, Burundi, Cabo Verde, Canada, Central African Republic, Cote D’Ivoire (Ivory Coast), the Democratic Republic of the Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Gambia, Guinea, Guinea-Bissau, Iran, Iraq, Kenya, Kosovo, Lebanon, Lesotho, Liberia, Libya, Malawi, Mozambique, Myanmar (Burma), Namibia, Nicaragua, Nigeria, North Korea, Rwanda, Senegal, Somalia, South Sudan, Sudan, Syria, Tanzania, Togo, Uganda, USA, Vietnam, Virgin Islands, Yemen, Zambia and Zimbabwe.
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