Shadine Taufik · · 1 min readSG crypto firm allows debit, credit payments for token purchases
London-headquartered crypto firm Luno has partnered with US-based fintech company FIS to expand its in-app payment methods, Fintech News Singapore reported.
Before the partnership, Luno’s Singaporean users purchased cryptocurrency through bank deposits and the Monetary Authority of Singapore-approved StraitsX payment service.
A 3.5% flat rate will be taken from each transaction for customers opting to use this new payment method to cover Luno, which comes on top of the chosen card merchant’s processing fees. An added security measure for these exchanges is secure authentication through a one-time password (OTP).
Luno Singapore is one of the more recent crypto entrants in the country, only receiving its in-principal approval to provide digital payment token services in April. Last month, it introduced currencies Chainlink and Uniswap to its local platform as well as a USDC savings wallet.
Competing crypto exchanges include Crypto.com, Gemini Exchange, Kraken, and Coinhako.
See also: Singapore’s ‘Crypto King’ has no clothes
Editing by Miguel Cordon
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