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Huobi, a cryptocurrency exchange based in Seychelles, has joined forces with Visa Inc. to introduce the Huobi Visa Card, which will make it easier for customers to convert and use their cryptocurrencies as payments to at least 80 million merchants worldwide.
Huobi is currently one of the leading crypto trading exchange firms in the world, and Visa is one of the most used financial services. They have agreed to collaborate to offer debit cards where people with crypto will be able to use their digital currencies without much hassle.
The companies announced last week that they would issue the Huobi Visa debit card in various countries. The goal of this project is to bring a more efficient fiat-to-crypto channel for its users while also promoting the development of the virtual assets business.
As per CoinTelegraph, the new Huobi Visa Card will be accessible to a number of markets in Europe for the initial phase of the rollout. After this, the companies will release the debit card to other territories.
It was said that the introduction of this exclusive Visa Card indicates the crypto exchange’s strong intention to help boost the adoption of virtual assets on the global stage. Cardholders will be able to get cashback offers which are given out in HT tokens every time the card is used for payment.
This cooperation between Huobi and Visa is expected to offer convenience, faster transactions, and reduced costs to users. Other benefits to enjoy include vouchers, coupon airdrops, privileges in Huobi Earn products, APY booster coupons, and a lot more.
“The launch of the Huobi Visa Card marks a significant milestone in Huobi’s push in making virtual assets accessible to everybody,” Huobi Global’s member of advisory board, Justin Sun, said in a statement. “Huobi and Visa are both prominent leaders in their respective industries. With the Huobi-branded card, we hope to contribute towards global financial inclusion.”
Cuy Sheffield, the head of the crypto unit at Visa, further said, “Visa wants to serve as the bridge between the crypto ecosystem and our global network of merchants and financial institutions. We are excited to work with innovative platforms like Huobi to make it easy and seamless for consumers to spend from their crypto balances anywhere Visa is accepted.”
Photo by Giovanni Gagliardi/Unsplash
