Paxful has entered into a partnership with Bnext, a Spanish neobank, to launch a crypto debit card. This crypto debit card will be the first one to be launched in the Mexican market. Here the Mexican customers will be able to use their crypto to make payments through a debit card. Along with this, they will be able to withdraw cash as well using ATMs without paying any fees. Paxful Believes Strict Banking Regulations Leading to Crypto Adoption According to Paxful, there are quite strict banking regulations in Mexico due to which the focus is shifting to cryptocurrencies. As reported by crypto exchange Bitso, there has been a growth of 342% in Mexico’s crypto exchange’s volume. This volume was recorded from September 2019 to May 2020. Through this partnership, the customers of Bnext will be having direct access to the P2P marketplace offered by Paxful. This means that the customers will be able to buy and sell crypto using this marketplace only. Ray Youseff, CEO of Paxful, believes this partnership to be an important step towards financial inclusion. He claimed that both the firms will be providing a completely safe banking option to the Mexican customers. Not only this, but they will also focus upon making crypto trading accessible across the globe. Mexico is Among Six Countries With Most Crypto Users Back in July, it was reported that Mexico, along with Colombia and Argentina, are among the top six countries that are having the highest crypto users across the world. It was specified by the firms that the card will be issued by Bnext only and the whole project will be endorsed by Paxful’s P2P marketplace. Paxful is having more than 300 payment methods and now Bnext is the net addition to it for Mexican users. They will be able to buy, sell, and trade Bitcoin (BTC) and Tether (USDT), using this marketplace.
The post Paxful Partners With Bnext to Launch Mexico’s Crypto Debit Card appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
