Distributed public ledger Hedera Hashgraph’s native cryptocurrency HBAR is now available for purchase through Israel-based global fiat payment processor Simplex, the companies announced Monday.
- In a statement, Simplex said the integration will enable users to buy and sell HBAR with a credit or debit card using its global platform.
- Simplex is an EU-licensed financial institution that provides global fiat infrastructure to enable secure credit card processing for the crypto industry. It already supports a host of cryptocurrencies on its platform including bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), Ripple (XRP) and litecoin (LTC).
- Hedera Hashgraph launched its network last September and has since processed over 200 million transactions worldwide, the companies said.
- But Hedera had a shaky start as the HBAR token crashed a month following its launch, and the company had to withhold tokens from investors in an effort to stabilize price.
- HBAR spiked earlier this year when Google announced it will be joining Hedera’s governing council, which includes other high-profile multinational firms such as Boeing, Avery Dennison, IBM and Tata Communications.
- Earlier this year, Binance integrated Simplex to its platform to expand the range of fiat currencies that users can use to purchase crypto.
Also read: Australian Payment Card Company to Trial Micropayments Using Hedera Hashgraph