Hong Kong-based cryptocurrency exchange service provider CoinEx has partnered with Simplex, a fiat infrastructure provider, to buy cryptocurrency on CoinEx using credit cards.

The partnership will enable CoinEx users to buy cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin and USDT with a Visa or MasterCard credit cards directly.

The new offering supports buying crypto in major currencies like USD, EUR and CAD.

Simplex charges users a processing fee of 3.5% per transaction or a minimum of $10, whichever is higher.

The daily transaction limit has been set to $20,000, and the monthly limit is set to $50,000.

Simplex co-founder and CEO Nimrod Lehavi said: “Enabling fast and secure credit card payments is a key step to mass crypto adoption.

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“We are excited to partner up with CoinEx and bring a better and easier experience to users worldwide.”

In December 2019, CoinEx obtained the licence to operate in Estonia.

CoinEx founder and CEO Haipo Yang said: “We are thrilled to be partnering with Simplex to lower the threshold for more people to enter the crypto world.

“This is also a milestone for CoinEx, as it’s the first fiat onramp we integrated into our platform.

“We endeavour to provide our current and potential users with more convenient functions.”

“Our goal in 2020 is to cover at least 10 different languages speaking markets, and building a fiat gateway is our first move to attract more users around the world.”