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Huobi Global Announces Payment System Overhaul to Aid Card Payments

UTC by Benjamin Godfrey · 3 min read
Huobi Global Announces Payment System Overhaul to Aid Card Payments
Photo: Depositphotos

Huobi Global exchange has seen a hike in activities and its involvement to boost crypto and blockchain innovation adoption in recent times.

Popular cryptocurrency exchange Huobi Global has made known an overhaul to its payment service systems which now allow users to easily pay for the purchase of digital currencies or any related deposits with their Visa and Mastercard respectively. Per the announcement, Huobi exchange’s customers will henceforth be able to use their credit cards as well as their debit cards to make payments without the need for any third-party payment service providers.

Per the reports, Huobi has prior to this time utilized the service of payment service processors for customers making payments through the platform in a bid to comply with the Know-Your-Customer (KYC) provisions. The new direct upgrade is not just a testament to the company’s deliberate growth, it also depicts the Seychelles-located exchange’s determination to enhance its customers ease of using the platform.

“By removing an extra step in the user journey, we’re creating a frictionless experience,” said Ciara Sun, vice president of Global Business at Huobi Group, in the official release reported by Coindesk. The now seamless payment service is now available to customers with Visa cards in nations within the European Economic Area (EEA) as well as to Huobi’s users in Australia. Additionally, only Huobi’s customers in the Netherlands, France, UK, Australia, Gibraltar, Czech Republic, and Poland with Mastercard’s debit or credit cards can enjoy the service for now.

Huobi Global’s Latest Engagements Beside the Payment Gateway Upgrade

Huobi Global exchange has seen a hike in activities and its involvement to boost crypto and blockchain innovation adoption in recent times. With the exchange’s vital position in a DeFi Alliance that has attracted key Decentralized Finance applications such as Aave, and Synthetix among many others, the firm’s position to solidify blockchain and DeFi offerings for the benefit of the consumers is thus re-emphasized.

For the benefits of its customers spread across the globe, Huobi Global also launched Bitcoin Options through its Futures business unit back in September. While all these are indirect ways to offer its customers additional products and values, the exchange has a deep mission to help usher in the truly decentralized payment system. This was portrayed when in June, the company joined forces with a coalition of blockchain firms including Ripple to develop and expand PayID, an email-style money transfer system that will redefine the future of borderless and secure money transfer.

The blockchain and cryptocurrency ecosystem is all about payments and the more payment systems are simplified for the end-users the better. The elimination of third-party payment service providers when making deposits as backed by the company’s tech arm called Huobi Technology is seen by many as a step further in enhancing the user experiences of crypto enthusiasts particularly the new entrants into the Huobi blockchain and trading ecosystem.

Altcoin News, Bitcoin News, Blockchain News, Cryptocurrency news, Editor's Choice
Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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