Huobi Gandeng Visa To Improve Crypto Adoption

JAKARTA Crypto trading company Huobi has officially partnered with the leading payment company, Visa. This collaboration is aimed at bridging the gap between cryptocurrencies and fiat money. With this partnership, Huobi will launch the Huobi Visa Card.

For information, Huobi is an old player in the crypto trading business. The company was founded in 2013 by Leon Li in China. In 2017, the Chinese government banned all crypto-related activities, the company decided to set up its offices in Hong Kong, South Korea, Japan and the US. Currently Huobi has a trading volume of IDR 4.9 trillion.

Huobi's collaboration with Visa allows easy access for investors to cryptocurrencies. Huobi's Visa Card will have an important role in increasing crypto adoption. The reason is, this card creates a fiat conversion method to crypto efficiently for consumers.

Additionally, partnerships like these promise to help promote the popularity of the virtual asset industry widely. According to a recent regulatory report, Visa is currently operating in at least 200 countries and offers a customer base of about 3.3 billion people.

Therefore, Huobi hopes to leverage Visa's large customer base to help drive its plans to promote the adoption of virtual assets around the world. Huobi also hopes to donate its quota for global financial inclusion with this partnership.

Commenting on the partnership, Justin Sun, who has been appointed as one of Huobi Global's Advisory Council, expressed his optimism regarding Huobi and Visa's collaboration.

"Huobi and Visa are leading leaders in their respective industries. With Huobi branded cards, we look forward to contributing to global financial inclusion," said Justin Sun.

On the other hand, Visa also has the same vision as Huobi crypto exchange to bridge the gap between crypto and traditional money. This was conveyed by the Head of Crypto section on Visa, Cuy Sheffield. That way, Huobi users will be able to link their Visa card to the account on the crypto platform.

According to the announcement, existing Huobi users can link cards to their accounts. This implies that users can now buy goods and services at one of the 80 million Visa traders worldwide, using their virtual asset balances, "said Shffield.