Place/Date: Tokyo - September 8th, 2020 at 2:01 pm UTC · 3 min read
Bitfront, a global digital currency exchange operated by LVC USA, a subsidiary of a global mobile platform LINE, today announced their partnership with Simplex, the leading fiat infrastructure provider. This exciting partnership gives Bitfront users the ability to purchase cryptocurrency with the flexibility and convenience of using their credit or debit card. Integrating with Simplex enables Bitfront to offer an easy onramp to all their supported digital assets: Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and Tether (USDT).
The partnership with Simplex brings a valuable payment gateway to the new crypto exchange and built-in wallet. Simplex’s fiat onramp provides a borderless and frictionless user experience that’s tailored to digital asset traders and holders.
With a daily limit of $50,000 and a monthly limit of $200,000, users can purchase cryptocurrencies swiftly and easily with their debit and credit cards, directly in their wallet.
By supporting a wide range of fiat currencies, Simplex additional costs for the end-users. Normally, the users’ issuing bank charges an average of 3% exchange rate for transactions in local currencies. Simplex’s leading payment solution enables easier currency conversion by facilitating affordable fiat-crypto swaps.
Nimrod Lehavi, CEO of Simplex, said:
“Simplex’s vision is to make crypto accessible to everyone, globally and without risk . We’re excited to help additional users onramp through our Bitfront partnership.”
Minje Cho, CEO of LVC USA, said:
“At Bitfront, we are focused on delivering a convenient and safe user experience. Partnering with Simplex, we hope to bring seamless trading experience together.”
Formerly known as Bitfront, Bitfront relaunched in February 2020, leveraging LINE’s security and service know-how. The company has a wealth of experience building communication, fintech, and AI services throughout Asia. LINE is listed on both the Tokyo Stock Exchange and Nasdaq.
Based in the United States, Bitfront is a digital currency exchange operated by LVC USA under LVC Corporation and LINE Corporation. Launched on February 27, 2020, Bitfront focuses on providing a user-centric experience through first-rate customer support, along with the highest levels of security and transparency.
Simplex is an EU-licensed financial institution, providing the fiat infrastructure for the crypto industry. Simplex processes credit card payments with a 100% guarantee – in case of a fraud chargeback, the merchant gets paid by Simplex. Simplex’s cutting-edge fraud prevention solution and proprietary state-of-the-art AI technology blocks fraudulent users and allows legitimate users to complete payments with ease, increasing conversion rates and enabling merchants to focus on their business growth.