MEXC Global, a crypto-asset trading platform, is enhancing the process of making virtual currency purchases by offering investors in 180 nations the option of acquiring cryptocurrencies by using their Visa or Mastercards.
Visa and Mastercard are known for offering affordable fees to new and experienced investors while easing the capital requirements. Investors can reportedly purchase up to $5,000 worth of crypto through a single transaction.
Anthony Guo, Head of Payment at MEXC Global noted that by supporting digital currency purchases with Visa and Mastercard, MEXC Global aims to offer a faster, intuitive, and more connected experience to its customers making it convenient for clients to exchange fiat money for digital assets, which should open up the ownership of crypto for millions of users wherever bank cards are the preferred medium of transaction.
Integration of mainstream payment methods is important since it leverages existing and familiar technology, rather than investing a lot of effort in learning a more technical system. This announcement notably marks the start of a partnership between industry incumbents in payment systems, Visa and Mastercard, with high-potential players in the DeFi ecosystem like MEXC Global.
After the launch of the OTC payment service, MEXC claims it has been focused on enhancing clients' trading experiences. Following the recent launch of the Global Bank Transfer Program, MEXC Global has permitted its users to deposit and withdraw US dollars using the SWIFT and FedWire networks.
Users can buy crypto-assets with USD deposits and withdrawals from local banking institutions without paying transaction fees. A number of other payment methods are also supported along with MEXC's entry into various other markets including Brazil.
In addition to peer-to-peer trading, MEXC customers may access third-party services including Baxna, Mercuryo, and Simplex. By supporting transactions with Visa and Mastercard, MEXC is fulfilling its goal of further simplifying the virtual currency purchase process and accelerating the integration of cryptocurrency with the larger finance sector.
The partnership between MEXC and Visa and Mastercard is furthering the platform's goal of connecting the world through globalized digital currency trading.