Financial technology leader Worldpay from FIS® (NYSE: FIS) has been selected by cryptocurrency platform OKCoin to provide global merchant acquiring and foreign exchange services to support its continued global expansion, currently spanning 190 countries.
OKCoin is a global exchange that enables customers to easily transition between crypto and fiat currency into bitcoin, ethereum and 25+ other cryptocurrencies, as well as earn yield via staking on DeFi protocols. The exchange was looking for a proven and experienced partner to make card-to-crypto payments easier for its global customers.
The exchange will leverage Worldpay’s global scale and foreign exchange services, enabling smooth credit and debit card payments for customers to purchase crypto. The partnership will help OKCoin seamlessly expand into new markets while providing superior reporting, analytics and fraud monitoring, with high authorization rates.
“Worldpay has extensive experience guiding cryptocurrency exchanges through the complexities of the global payment ecosystem,” said Jason Pavona, General Manager for North America, Worldpay Merchant Solutions at FIS. “For the past eight years, we have worked with some of the world’s biggest crypto exchanges, building solutions to open up card payments and payouts to consumers using crypto exchanges. Interest in crypto currencies has never been greater and making exchanges more accessible to consumers by enabling global card-to-crypto payments is now more important than ever. “
“Our mission is to enable seamless transition between local currencies and cryptocurrencies to grow the ecosystem across the globe, and to provide intuitive products which enable our customers to participate in the crypto economy with none of the complexities,” said Jason Lau, OKCoin COO. “Worldpay’s extensive experience in the industry is helping us in that goal through card payments across all other 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.”