Israeli-based Fintech & Cryptocurrency Firm Simplex Now Supports JPY & CAD

Despite the biggest declines in six months, Israeli-based fintech & cryptocurrency firm Simplex now supports two new fiat currencies – JPY & CAD. With this move, the Binance’s partner now allows its users to buy crypto with a credit card using the Japanese Yen and the Canadian Dollar. However, not all Simplex’s partner exchanges will receive the by-default support.

What did the Cryptocurrency Firm Simplex Confirm the Media?

Upon asking, the spokesperson from Simplex confirms the report that only the company’s partners can now allow their users to buy crypto using JPY and CAD on their credit card.  But the representative fails to specify what companies will be the first to enable the feature.

Binance is yet to give any comment over this partnership. No official comment

Simplex Also Announces New Partnership with OKEx

Simplex also announces a new partnership with the major cryptocurrency exchange OKEx earlier this week. The company revealed its partnership through a tweet that allows its users to buy Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin using debit and credit cards. The new feature is officially available on OKEx’s website.

Upcoming Plans of the Company

Besides, CEO from Simplex and Founder Nimrod Lehavi reveals to the media about the company’s plans. He told that Simplex is soon going to add Russian rubles and Turkish Lira support. Nimrod Lehavi also makes a statement that Japan and Canada are not only the top two crypto markets worldwide but also are among the top-10 territories with the highest number of credit card users.

Simplex is a globally recognized European Union-licensed financial institution and crypto payment processing provider. With offices in the UK, the U.S, Israel, and Lithuania, Simplex provides a hassle and fraud-free crypto payment processing services. The company offers its services to Litecoin Foundation, Shapeshift, Xapo, and Changelly to date. However, aims to serve more in the coming years.

According to media reports, Simplex was supporting three fiat currencies way before adding JPY and CAD: the U.S. dollar, euro, and the British Pound. Simplex’s other partner exchanges next to Binance are KuCoin, OKCoin, Huobi, and Poloniex.

As per the reports, Binance partners with Simplex in January 2019 to unlock credit card crypto purchases and dealings.

What do you think about this partnership? Is this a well-thought step from the company? Do let us know!