Huobi Group has extended support for Visa and Mastercard transactions on its digital asset exchange Huobi Global to facilitate seamless cryptocurrency transactions.

The new payment service is being provided by Huobi Technology, which is a regulated DLT firm by the Gibraltar Financial Services Commission.

It allows Visa and Mastercard users to buy cryptocurrencies using their credit or debit cards directly through the Huobi Global user interface.

Previously, Visa and Mastercard transactions were supported on Huobi’s platform through other payment service providers. Additionally, the users had to complete KYC from a different interface as part of the onboarding process.

The new integration enables users to register and transact from a single interface as user onboarding, including KYC, is conducted by Huobi Gibraltar.

Huobi Group vice-president of global business Ciara Sun said: “We’re always looking for ways to improve the user experience for crypto users. Our goal is to make digital assets more accessible to a much wider audience.

“By removing an extra step in the user journey, we’re creating a frictionless experience that makes it incredibly easy for anyone to buy crypto without leaving our exchange.”

The rollout of the new payment integration is said to provide Huobi users with access to a seamless fiat-to-crypto gateway through the two payment networks.

This new service is being offered to Visa cardholders in European countries and Australia and Mastercard cardholders in the UK, Gibraltar, France, Poland, Czech Republic, Netherlands and Australia.

They will be able to purchase BTC, ETH, XRP, LTC, USDT, EOS, BCH, ETC, and BSV directly with their debit/credit cards.

Huobi Global also supports fiat currencies such as ALL, BGN, CHF, CZK, DKK, EUR, GBP, HRK, HUF, MDL, MKD, NOK, PLN, RON, SEK, TRY, UAH, HKD, AUD and USD.

Last year, Huobi partnered with payment processor Simplex to allow its over-the-counter (OTC) trading platform to accept deposits through Visa and Mastercard.

The latest move part of the company’s aim to minimise its dependence on unrelated third-party platforms.

Huobi said it plans to further invest in research and development for both core and ancillary trading technology.