Huobi has partnered with Visa to release a payment card for its users. The crypto firm made the announcement on a blog post after a series of engagements with Visa.
Huobi is a Seychelles-based cryptocurrency exchange founded in China. The company, which was launched in 2013 by Leon Li, a graduate of Tsinghua University, processed up to $1 billion in daily trade and became a publicly listed Hong Kong company in 2018.
It offers trading options for more than 100 cryptocurrencies, including Bitcoin, Ethereum, XRP, and its native token, Huobi token (HT).
Visa is one of the largest payment infrastructures in the world, with a system that processes 24,000 transactions per second and 150 million transactions per day. It processes up to 3 billion cards and connects with over 46 million merchants using more than 160 currencies around 200 countries.
According to Huobi, the partnership is targeted at making a fiat-to-crypto gateway accessible to its users and advancing the development of the virtual asset industry.
Huobi Visa card
Huobi explained that the Huobi Visa Card would first be released in several European markets, after which it will be extended to other regions. Also, the Huobi Visa card will be connected to the accounts of Huobi users to allow them to convert their virtual assets to fiat for payments around the world.
Other benefits of using the Huobi Visa card include cashback vouchers, sure-win coupon airdrops, APY booster coupons, privileges in Huobi Earn products, and more.
Justin Sun, one of Huobi’s board of directors, said that the card launch is a milestone for the company in delivering services related to digital assets to its users. “Huobi and Visa are both prominent leaders in their respective industries. With the Huobi-branded card, we hope to contribute towards global financial inclusion,” he added.
Head of Crypto at Visa, Cuy Sheffield, also expressed optimism about the partnership noting that working with Huobi is vital in ensuring that consumers spend their crypto in regions where Visa is accessible.
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