The cryptocurrency sphere is bustling today. Crypto news regarding Poloniex is causing a stir. The exchange will now accepts credit cards and bank accounts. Elsewhere, prominent crypto-advocates the Winklevoss twins, along with their Gemini exchange, might be buddying up with Facebook’s Libra.
Let’s check this out.
Crypto News Making Moves
Major cryptocurrency exchange Poloniex has announced that customers can now use credit cards and bank accounts on the platform. It announced the move in a Medium post published yesterday.
The release states that users from over 80 countries can now move funds directly to and from their bank accounts into the exchange. Once the fiat currency hits the exchange, it will be converted into the USD stablecoin.
The platform has set weekly limits of $50,000 for deposits and $25,000 for withdrawals. However, it is willing to potentially increase those limits on a case by case basis.
Where credit and debit cards are concerned, over 60 jurisdictions will be able to purchase crypto using the cards. This is made possible through a partnership with payment processor Simplex.