In the near future, Huobi, in collaboration with Visa and Solaris, will make crypto-to-fiat cards available in the European Union.
In Brief
Huobi, along with Visa and Solaris, will be releasing crypto-to-fiat cards designed for customers located within the European Economic Area.
Existing and new customers of Huobi will be able to access these cards starting in the second quarter of 2023.
Based in Seychelles, the cryptocurrency exchange Huobi has partnered with Solaris, a financial services firm from Germany, to support crypto-to-fiat transactions in the European Union.
Beginning in Q2 2023, users of Huobi within the European Economic Area (EEA) will be given the option to make purchases using their cryptocurrency wallets. It's also worth mentioning that the EEA comprises 27 EU countries along with Norway, Iceland, and Liechtenstein.
These cards will be powered by the reputable financial brand Visa, allowing Huobi users to deploy their digital assets at various retail locations worldwide. Solaris will utilize its Buffer card technology, which links a fiat account to a cryptocurrency wallet for payments.
Customers will have a choice among five distinct card variants. Depending on which card they select, users will enjoy a range of perks. For instance, those who make purchases using Huobi Token can enjoy cash-back rewards.
Andrea Ramoino, Solaris’s Chief Strategy Officer, expressed enthusiasm about collaborating with a leading virtual asset exchange to provide seamless crypto-to-fiat transactions for the Huobi user base via their innovative Buffer technology. This marks an exciting beginning in their partnership as they aim to expand payment solutions for users throughout the EEA and beyond.
This partnership and the anticipated Visa Huobi card rollout were announced back in December 2022. Before this initiative, Visa had allied with the crypto exchange FTX to launch debit cards in over 40 nations; however, those plans fell through following FTX’s bankruptcy in November 2022.
Huobi and Visa first announced Huobi Global is making a substantial move by investing $1 billion into decentralized finance and Web3 initiatives.
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Disclaimer
In line with the Trust Project guidelines Valeria, a journalist at Metaverse Post, specializes in topics such as fundraising, AI technology, the metaverse, digital fashion, NFTs, and other web3-related content.
