According to a FIS press release published on 21 July, Worldpay will provide merchant acquiring and foreign exchange services to OKCoin. The exchange will leverage Worldpay’s scale and services to provide its customers with the ability to purchase cryptocurrencies with credit and debit cards.
OKCoin is a global cryptocurrency exchange with a presence in over 190 countries. The exchange enables its customers to seamlessly transition between crypto and fiat currencies, supporting spot trading for over 25 different coins, as well as staking on various DeFi protocols. It has been on the lookout for a proven and experienced partner that would help it make card-to-crypto payments smoother and easier.
Jason Lau, the COO of OKCoin, said that Worldpay’s extensive experience in the industry will help the company expand its card payments across multiple markets.
“As we activate new markets and local currencies, opening up new channels of payments will play a key part in our growth, as well as the overall cryptocurrency industry,” he said in the company’s release.
Jason Pavona, the General Manager for North America at FIS’s Worldpay Merchant Solutions, said the company has spent the past eight years working with some of the world’s largest crypto exchanges. He noted that interest in cryptocurrencies has never been greater, and it was important to make exchanges more accessible to consumers through global card-to-crypto payments.
Since the beginning of the year, FIS has announced several cryptocurrency-focused initiatives, and processes over $2 trillion in transactions annually across more than 100 countries.