Crypto Exchange OKCoin Takes FIS Affiliate Worldpay To Lead Global Expansion

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Cryptocurrency exchange OKCoin has selected merchant service provider Worldpay to assist in its expansion efforts, which include offering crypto-to-crypto payments to a global audience.

OKCoin will take advantage of Worldpays’ foreign exchange services, allowing customers to purchase cryptocurrency with credit and debit cards. Jason Lau, COO of OKCoins, said his company chose Worldpay for its extensive experience working with cryptocurrency exchanges. He further explained:

As we activate new markets and local currencies, opening up new payment channels will play a key role in our growth, as well as across the cryptocurrency industry.

Related: 40% Plan to Use Crypto for Payments in the Next Year: Mastercard Survey

Jason Pavona, Managing Director for North America at Worldpay Merchant Solutions, described his company’s experience with crypto exchanges:

Over the past eight years, we’ve worked with some of the largest crypto exchanges in the world, creating solutions to open card payments and consumer payments using crypto exchanges.

Pavona also indicated that interest in [cryptocurrencies] has never been so big.

Related: BlackRock CEO Reports Weak Crypto Demand From Long-Term Investors

Worldpay is wholly owned by FIS, a publicly traded provider of technology and merchant services. FIS is both a Fortune 500 company and a member of the S&P 500 Large Cap Index. The company processes more than $ 2 trillion in annual transactions.

Cryptocurrency exchanges have seen a surge in the number of new users over the past year, with several joining the coveted category of unicorns, a term that describes startups with a valuation of at least $ 1 billion. As Cointelegraph reported, the FTX derivatives exchange recently broke a new crypto funding record, bringing its total valuation to $ 18 billion. Meanwhile, a pair of Latin American exchanges Bitso and Mercado Bitcoin saw their valuations surpass $ 2 billion.

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